Sebi panel for clarity in board of directors' appointments
MUMBAI: A Sebi panel has proposed increased transparency in the processes for appointment and removal of board of directors . The panel has also said that companies should have better systems for evaluating the performance of directors and should periodically disclose how board members have performed. Although U K Sinha-led Sebi did not raise any specific issue, the regulator's International Advisory Board said that it has taken note of "the recent developments on corporate governance related issues in India." The Sebi release on IAB came after its two-day meeting in Jaipur ended on Saturday during which there were extensive deliberations on the role of the nomination and remuneration committee (NRC) of the board, role and evaluation of independent directors,and disclosure requirements. The proposal comes a month after Sebi came out with a 'guidance note' on evaluation of board of directors of listed entity. The IAB members includes some of the former financial