The Securities and Exchange Board of India (SEBI) on August 29, 2024, issued a Consultation Paper on provisions pertaining to appointment of Public Interest Director.
This paper seeks public comments on various proposals connected with the process adopted by SEBI for the appointment of Public Interest Directors (PIDs) on Stock exchanges, Clearing Corporations and Depositories and for improving the ease of doing business for PIDs. The suggestion relating to the appointment process aims to achieve better shareholder participation in the appointment process of PIDs. For improving ease of doing business for PIDs, the proposals include easing documentation requirements when being considered for PID appointment, allowing payment of fixed stipend to PIDs in addition to sitting fees, and reducing the cooling off period for appointment of PIDs.
For further information, please refer to the document provided below.
