State the relevant provisions in each of the following as per the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) [SEBI (LODR)] (Second Amendment) Regulations, 2023 notified as on 14t

CS Professional · Compliance Management, Audit and Due Diligence · PYQS · June 2024
State the relevant provisions in each of the following as per the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) [SEBI (LODR)] (Second Amendment) Regulations, 2023 notified as on 14th June, 2023: How the vacancies to be filled in respect of Key Managerial Personnel ?

Answer & Explanation:

(i) Vacancies to be filled in respect of certain Key Managerial Personnel [Regulation 26A of (SEBI) (Listing Obligations and Disclosure Requirements) (LODR) Regulations, 2015]: Any vacancy in the office of Chief Executive Officer, Managing Director, Whole Time Director or Manager shall be filled by the listed entity at the earliest and in any case not later than 3 months from the date of such vacancy. Any vacancy in the office of the Chief Financial Officer shall be filled by the listed entity at the earliest and in any case not later than 3 months from the date of such vacancy. Provided that where the listed entity is required to obtain approval of regulatory, government or statutory authorities to fill up such vacancy, then the vacancy shall be filled up by the listed entity at the earliest and in any case not later than six months from the date of vacancy. The listed entity shall not fill such vacancy by appointing a person in interim capacity, unless such appointment is made in accordance with the laws applicable in case of a fresh appointment to such office and the obligations under such laws are made applicable to such person.

Topics: SEBI (LODR) Regulations, 2015 (Second Amendment)

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