Corporate governance norms set to be diluted

There is a likelihood that corporate governance norms may be diluted by the Securities and Exchange Board of India so far as the disclosures are concerned. The market is also abuzz with reports of Mapin being put on the backburner or scrapped altogether.

Implementation of both corporate governance norms and Mapin (The Central Database of Market Participants) -- were pushed to the end of the year after both corporates and investors made representations to Sebi that it would not be possible to comply with the regulations within such a short span of time.

While the minimum requirement for non-executive directors -- a major bone of contention for corporates -- is expected to remain unchanged and the corporate will have to comply with it, disclosure norms would be relaxed.

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