A new committee was constituted by Securities and Exchange Board of India (SEBI) to work on Corporate Governance in June 2017. This committee formed under the Chairmanship of Mr. Uday Kotak in order to strengthen the guidelines of Corporate Governance of listed entities in India.

The committee formed comprises of officials from the government, industry, professional bodies, stock exchanges, academicians, lawyers, proxy advisors, etc.

The committee was requested to submit a report within 4 months on the following issues:

• Ensuring independence in spirit of Independent Directors and their active participation in functioning of the company;
• Improving safeguards and disclosures pertaining to Related Party Transactions;
• Issues in accounting and auditing practices by listed companies;
• Improving effectiveness of Board Evaluation practices;
• Addressing issues faced by investors on voting and participation in general meetings;
• Disclosure and transparency related issues, if any;
• Any other matter, as the Committee deems fit pertaining to corporate governance in India.

The report was submitted by the committee on October 5, 2017.