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The event comes within the backdrop of alleged company governance lapses at NSE, with a number of points coming to the fore following a Sebi order that disclosed existence of a ‘Himalayan yogi’ who influenced the selections of the trade’s former MD and CEO Chitra Ramkrishna.
Other than this, Ramkrishna had shared sure inner confidential info, together with monetary and enterprise plans of NSE, dividend situation, monetary outcomes with the yogi and even consulted him over the efficiency value determinations of the trade’s staff.
The six-member committee will probably be chaired by G Mahalingam, former whole-time member of Sebi, in accordance with an announcement.
The opposite members of the committee are — MD and CEOs of inventory exchanges NSE and BSE, and depositories — NSDL and CDSL; J N Gupta, MD of Stakeholders Empowerment Companies; Aarti Nihalani, Companion, Oliver Wyman; Sandip Bhagat, Companion, S&R Associates; and Uttam Bagri, former chairman, BSE Brokers Discussion board.
The phrases of reference of the committee embrace making suggestions on measures for strengthening the position performed by governing board and committees of MIIs.
As well as, the panel will overview the necessities associated to appointment and position and accountability of administrators on the board and Key Managerial Individuals (KMPs), and growing efficient metrics for monitoring varied facets of the functioning of MIIs and KMPs.
Additionally, the committee will improve accountability and transparency, overview the coverage on safekeeping and sharing of data held by MIIs and revisit the code of conduct and code of ethics for administrators of the governing board and KMPs.
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