SEBI (LODR) Regulations, 2015 amended by the SEBI Board
In order to strengthen corporate governance practises and disclosure requirements based on market capitalization, the SEBI has approved that the top-1,000 listed firms will have to develop a dividend distribution policy rather than just the top 500 listed firms. From the existing top 500 listed entities, the Risk Management Committee (RMC) has been expanded to include the top 1000 listed entities by market capitalization. Furthermore, the Risk Management Committee must have at least three members, with the majority of them being board members, including at least one independent director.
Further amendment approval includes the provisions of the Listing of Obligations and Disclosure Requirements (LODR) Regulations that become applicable to listed entities based on market capitalisation criteria and paid-up capital and net-worth, which shall continue to apply even if such entities subsequently fall below the specified thresholds for three consecutive fiscal years.
