Business Ethics and Corporate Governance, Second Edition

IMPLEMENTATION OF THE RECOMMENDATIONS OF BIRLA COMMITTEE REPORT

Clause 49 of the Listing Agreement

What is Clause 49?   The Securities and Exchange Board of India monitors and regulates corporate governance of listed companies in India through Clause 49.2 This Clause is incorporated in the listing agreement (LA) of stock exchanges with companies and it is compulsory for them to comply with its provisions. Stock exchanges endeavour to bring in corporate governance standards among companies by the introduction of Clause 49 in the listing agreement they enter into with them before they are being listed. SEBI issued Clause 49 in February 2000. All group. A companies had to comply with its provisions by 31 March 2001. All other listed companies with ...