The School for Corporate Governance (SCG) of the National Institute of Securities Markets (NISM) along with Bombay Stock Exchange (BSE Ltd) and the Institute of Company Secretaries of India – Western India Regional Council (ICSI-WIRC) had organised a Joint Seminar on “New Corporate Governance Framework and Implications for Board of Directors” at BSE International Convention Hall, Mumbai on September 10, 2018

SEBI had recently amended the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, based on the recommendations of SEBI Committee on Corporate Governance (Uday Kotak Committee). The objective of the present Seminar was to provide a clear understanding of the intent as well as implication of the amended Regulations to Board of Directors, as this would help in improving quality of Board deliberations and also result in effective implementation.

Shri Ashish Kumar Chouhan, Managing Director and Chief Executive Officer, BSE Ltd, while delivering the welcome address,underscored the importance of corporate governance for listed companies.

Dr.M.Thenmozhi, Director, NISM, dwelt upon gender diversity in Board composition and also the new skill sets and thinking it can bring about in Board deliberations. Director-NISM while highlighting the importance of leadership role for women, called for “Equity in the Equity Markets”.

Shri G Mahalingam, Whole Time Member, SEBI, was the Chief Guest of the Seminar and delivered the Key Note address on “New Corporate Governance Framework – The Road Ahead”. Shri Mahalingamspoke at length about the significance of corporate governance and its impact on wealth creation. The Whole Time Member also shared his insights on the role and responsibility of the independent directors under the new corporate governance framework and its implications on the functioning of listed companies..

A Technical Presentation was made by Ms. Savitri Parekh, , Senior Vice President – Legal & Company Secretary, Pidilite Industries Limited, highlighting the recent amendments to the SEBI LODR Regulations

This was followed by a Panel Discussion on the recent amendments covering Role of Audit Committee, Role & Responsibility of Independent Directors, Promoters & their relationship with the Board. Shri M Krishnamoorthy, Faculty Member, NISM, was the moderator of the panel discussion and the panelists were:

• CS Savithri Parekh, Sr. Vice President – Legal & Company Secretary, Pidilite Industries Limited
• CS B. Renganathan, Executive Vice President & Company Secretary, Edelweiss Financial Services Ltd.
• CS JyotiTandon, Executive Director and Head of Compliance – India and Company Secretary , Nomura Financial Advisory and Securities (India) Private Limited
• CS Suresh Viswanathan, Founder Director & Chief Consultant, Finteglaw

The deliberations were well received by the participants and helped them in understanding the nuances of the latest amendments.

The Workshop concluded with a Vote of Thanks by Mr Khushro Bulsara Head- Listing Compliance, BSE Ltd.