In the wake of the HDFC Bank crisis triggered by chairman Atanu Chakraborty’s surprise quitting, Sebi chairman Tuhin Kanta Pandey on Monday said independent directors need to act responsibly, and back up any insinuations with evidence.
Sebi tightens conflict safeguards with recusal framework
In a significant move, SEBI has established a formal framework for recusal among its senior officials. This code mandates that officials withdraw from matters where