Sebi board to focus on independent directors next week, discuss appointment and removal rules

The Sebi board, which will meet on June 29, will also discuss a liberalised ownership framework to allow new entrants to set up stock exchanges and depositories. In March, Sebi had floated a discussion paper, in which it proposed to introduce a dual-approval system for the appointment and removal of independent directors. This would require approval by shareholders as well as a “majority of the minority” shareholders, other than the promoter and promoter groupprocess and meeting.

via Economictimes