SEBI had mandated the separation of the posts of

Solution

In 2017, the Uday Kotak Committee had recommended a host of norms and measures on corporate governance. One of the norms proposed was Separation of Roles of CMD i.e. Chairman and MD/CEO at listed firms should be separate and chairmanship should be limited to only non-executive directors. (w.e.f. April 1, 2022 for top 500 listed companies ). Listed entities were initially required to separate the roles of chairperson and MD/CEO from April 1, 2020 onwards. However, based on industry representations, an additional time period of two years was given for compliance.