Clause 49 of the Listing Agreement

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udit sharma (Querist)
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08 December 2010 As per clause 49(I) of the Listing Agreement, every company is required to have an optimum combination of executive and non-executive Directors with not less than 50% of the total number of Directors shall be Non-Executive Director. What if the composition of the Board of Directors is not in accordance with Clause 49(I) of the Listing Agreement???????

CS Md. Zaffar Rizwani

CS Md. Zaffar Rizwani (Expert)
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14 December 2010 first all..clause 49 is applicable to only listed companies.

if any company who voilate the provision of Listing agreemnet, then in that case stock exchange delist their share.

Ankur Garg

Ankur Garg (Expert)
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17 December 2010 Hi,

A listed company not following the desired combo of Board is required to disclose the same to STX through filing of Corporate Governance Report.

This report is required to be filed by a Listed company to STX quarterly to appraise the STX about the compliance status of clause 49.

Regards

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