Consultation paper on review of provisions of LODR Regulations pertaining to corporate governance norms for High Value Debt Listed entities

SEBI has issued a Consultation paper on review of provisions of LODR Regulations pertaining to corporate governance norms for High Value Debt Listed entities (HVDLEs). the proposals regarding the corporate governance norms for HVDLE on which public comments are sought are listed below.

1. Introduction of a separate chapter for corporate governance norms in the LODR Regulations which will be applicable only to HVDLEs;
2. Relaxation in the threshold for identification of High Value Debt Listed Entities for applicability of Corporate Governance Norms;
3. Introduction of the sunset clause for applicability of Corporate Governance norms;(d)Relaxation for HVDLEs which are not companies as per the Companies Act, 2013;
4. Relaxation with regard to constitution of the Nomination and remuneration committee (NRC);
5. Relaxation with respect to constitution of Risk Management Committee(RMC);
6. Relaxation with respect to constitution to Stakeholders Relationship Committee(SRC);
7. Introduction of filing of corporate governance compliance report in XBRL format and harmonization of reporting formats with that specified for equity listed entities;
8. Introduction of Business Responsibility and Sustainability Report (BRSR) for HVDLEs on a voluntary basis;
9. Requirements related to maximum number of directorships;
10. Requirements related to number of memberships or chairpersonships in the committees by a director; and
11. Requirements pertaining Related Party transactions (RPT).

The comments/ suggestions should be submitted through online mode latest by September 06, 2024.