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There is no procedure for selection of independent directors: Ajay Tyagi, SEBI

SEBI Chairman, Ajay Tyagi today stressed on the need of better corporate governance practices at listed public sector companies.

July 03, 2017 / 06:32 pm IST
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SEBI Chairman, Ajay Tyagi today stressed on the need of better corporate governance practices at listed public sector companies. Tyagi, who was speaking at an interactive meeting with top bosses of public sector enterprises in the national capital also complained that 20 percent of listed public sector companies still don't have a single woman director on the board. Under the regulations, listed companies are required to have at least one woman director on their boards. Tyagi, also took a dig at the way independent directors were being appointed. He said that in many cases, independent directors were being appointed and removed at whims and fancies of promoters of companies.

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first published: Jul 3, 2017 06:08 pm

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