SEBI has vide an amendment dated 10th January, 2020 to the Listing Obligations and Disclosure Requirements, 2015 (LODR) required that the chairperson of top 500 listed entities as per market capitalisation shall be a non executive director and not related to the MD or CEO as per the definition of relative within the Companies Act, 2013 with effect from 1st April, 2022. The earlier stipulation was that this was to be enforced from 1st April, 2020 onwards.
The relevant SEBI circular can be found here
The relevant SEBI circular can be found here
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