Available for www.sebi.gov.in/cms/sebi_data/attachdocs/1410777212906.pdf, last call for tenders on 31.07.2016. In order to comply with clause 49(1), an undertaking must comply with certain principles. In 2014, the term 49 was amended to include the Whistleblower Directive as a binding provision.  In accordance with SEBI Circular No CIR/CFD/POLICY CELL/2/2014 of 17 April 2014; Parar4 “Applicability”. Available at: www.sebi.gov.in/cms/sebi_data/attachdocs/1397734478112.pdf, called on 31.07.2016. Sebi listed paragraph 49 of the Equity Listing Agreement (2000), which today serves as the standard for corporate governance in India, as an important measure of codification of corporate governance standards. § 49 led to the requirement that half of the directors on the board of directors of a publicly traded company be independent directors. In the same clause, SEBI had proposed the powers of the audit committee, which was to have a majority of independent directors. Article 49 of the Listing Agreement deals with detailed corporate governance guidelines. Below are the provisions of a company that must comply with the implementation of effective corporate governance. (b) all undertakings which were required to comply with the requirement of clause 49 proposed for review, i.e. the term `clause 49` refers to clause 49 of the listing agreement between an undertaking and the exchanges on which it is listed (the listing agreement is identical for all Indian stock exchanges, including NSNs and BSE).
This clause is a further addition to the listing agreement and was only inserted in 2000, following the recommendations of the Kumarmangalam Birla Committee on Corporate Governance, established in 1999 by the Securities Exchange Board of India (SEBI). In 2014, Clause 49 was amended to include the Whistleblower Directive as a mandatory provision. These amendments are a mix of clarifications and flexibilities of corporate governance requirements, in accordance with Article 49 of the listing agreements. The communication between SEBI and large companies highlighted the difficulties of interpretation and recognition of the problem areas under the clause. This is a welcome change given the practicability of implementing the corporate governance provisions. However, these amendments do not fully pave the way for a smooth implementation of the standards in Clause 49 of the Listing Agreement, in accordance with the Companies Act 2013. The alignment of a definition of “related entities” and the raising of the threshold for determining the size of related party transactions to 10% of consolidated annual turnover and the approval of bus and coach authorisations have brought urgent changes. The provisions relating to the establishment of the risk management committee apply to the top 100 companies listed by market capitalisation at the end of the previous financial year. Article 49 also applies to other listed companies that are not companies, but entities, or that are subject to other laws (e.g. .