Define the role of Stakeholders in Corporate Governance under SEBI (LODR) Regulations, 2015.

As per Regulation 4(2)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the listed entity should recognise the rights of stakeholders and encourage co-operation between listed entity and the stakeholders in the following manner:- The listed entity should respect the rights of stakeholders that are established by law or through mutual agreements. Stakeholders should have the opportunity to obtain effective redress for violation of their rights. Stakeholders should have access to relevant, sufficient and reliable information on a timely and regular basis to enable them to participate in Corporate Governance process. The listed entity should devise an effective whistle blower mechanism enabling stakeholders, including individual employees and their representative bodies, to freely communicate their concerns about illegal or unethical practices. (Note: According to SEBI (LODR) 2nd Amendment Regulations, 2021 dt. 5th May, 2021, in regulation 4(2)(d)(iv) the words 'vigil mechanism/whistle blower policy' shall be used instead of the words 'whistle blower mechanism')