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Clause 49 Of The Listing Agreement By Sebi
Clause 49 of the listing agreement applies to all companies listed by the official circular with effect from 1 October 2014. Other companies that are not a company per se, but that are run by the entity and that are managed or regulated by another statute, are subject to this clause until it is compatible with their status. In the event that any provision of the clause is contrary to the law in question, the listing agreement will no longer apply. This clause does not apply to investment funds. The company`s code of conduct incorporates the obligations of independent directors defined by law. An independent director is responsible for the actions of a company that take place with his knowledge or when an independent director does not carefully meet the requirements of the listing agreement.