CAIRR Update April 11, 2023

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CAIRR Update April 11, 2023

April 11, 2023

Summary of the NSE and BSE Circulars dated 10/04/2023

These circulars are integrated in our free-to-use website

Revision of the affirmation to be provided by PCS in the Annual Secretarial Compliance Report

In the Annual Secretarial Compliance Report, the PCS is required to affirm that the compliances of the listed entity are in accordance with the applicable Secretarial Standards (SS) issued by the Institute of Company Secretaries of India (ICSI) as against the earlier requirement of affirming that the listed entity has complied with the Auditing Standards issued by the ICSI.

Click here to view the BSE Circular. Click here to view the NSE Circular.  
NSE and BSE issues guidelines w.r.t FAQs pertaining to the details to be filled in the quarterly Corporate Governance Report
Key highlights of the FAQs, which addresses technical and procedural aspects of the Corporate Governance(CG) report, are as below:
  1. The field for the date of re-appointment is mandatory for Independent Directors. In case the independent director is yet to be re-appointed i.e., first term is in subsistence, then the date of re-appointment shall be the same as initial date of appointment.
  2. For calculating the total chairmanship limit of 5 committees per director, chairmanships in Audit Committee and Stakeholder Committees in public limited companies whether listed or not should be counted.
  3. If a director was appointed as a Member of the Committee and later in the reconstitution of the Committee, he/she is appointed as the Chairman of the Committee, the date of appointment will be the date of appointment as the Member of the Committee. However, the company shall mention in the notes section about the change of the Chairperson in the committee.
  4. Membership Count in a Committee shall include the count of chairmanships in committees.
  5. Where invitees are attending the committee meetings, the Company is not required to furnish the details of invitees in the CG report.
  6. In order to revise the already submitted Corporate Governance Report, the companies are requested to send an email over, as the case may be, along with the details of reason for the Revision.
Click here to view the FAQs issued by BSE. Click here to view the FAQs issued by NSE. 

By | 2023-04-28T11:57:34+00:00 April 14th, 2023||0 Comments

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