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Network18 Exclusive: ‘SEBI making separation of chairman role voluntary a setback for governance’

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Network18 Exclusive: ‘SEBI making separation of chairman role voluntary a setback for governance’

Sources from the government’s Corporate Governance Committee said that the Securities and Exchange Board of India (SEBI) move to make separation of chairperson role voluntary is “a setback for governance”, CNBC-TV18 reported on February 16.

According to sources, the step back came after “industry bodies and corporates made representations expressing challenges in compliance” and due to “unsatisfactory level of compliance”.

The representations made included constraints posed by the COVID-19 pandemic, they said. Revised deadline to comply with the rule was to end by March 2022, but only 54 percent of companies were compliant with the rule as of December 31.

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CNBC-TV18 reported that most companies were comfortable with separating the posts as long as there was no restriction on the chairperson and MD/CEO being “related”.

Separation of chairperson and MD/CEO roles in listed entities was proposed by the Uday Kotak-led Corporate Governance Committee. The recommendation was approved by the SEBI board in March 2018. SEBI’s intention behind the rule was to implement global best practices in terms of corporate governance and to avoid the concentration of power in the hands of one individual in the company.

SEBI had on February 15 made the separation of chairperson and managing director roles voluntary, after companies opposed the regulator’s mandate that the MD and CEO “may not be related”. The move comes after Finance Minister Nirmala Sitharaman recently suggesting that SEBI “hear if Indian companies have a view on the matter”.

“I do agree that the way Indian companies are run and built over the decade and over century also depends so much on the family and related members being on the board,” Sitharaman had said on February 15.

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The market regulator’s decision comes nearly a year after SEBI Chairman Ajay Tyagi had urged companies at a Confederation of Indian Industry (CII) event to comply with the proposed new rule before the April 2022 deadline, after a two-year extension in January 2020.

“Considering a rather unsatisfactory level of compliance achieved so far, with respect to this corporate governance reform, the SEBI Board at this juncture, decided that this provision may not be retained as a mandatory requirement,” the regulator said in a press statement.

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

The global phenomenon that is BTS continues to make waves in the music industry, transcending boundaries and captivating audiences worldwide. This time, the spotlight is on Jungkook.

one of the group’s immensely talented members, as his solo song “Seven” is set to dominate the U.K. charts. Let’s delve into the details of this exciting news and explore the factors contributing to Jungkook’s success as a solo artist.

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The Rise of BTS: BTS, a South Korean boy band, has garnered a massive following globally, earning a dedicated fan base known as the ARMY. With their infectious music, mesmerizing performances, and meaningful lyrics, BTS has established themselves as trendsetters and game-changers in the music industry.

Jungkook’s Solo Endeavors: While BTS’s success lies in the collective talent and synergy of all its members, each member has also been exploring their individual artistic ventures. Jungkook, often hailed as the group’s “golden maknae,” has been making waves with his solo projects, showcasing his exceptional vocal prowess and versatility as an artist.

“Seven” Storms the U.K.: News of Jungkook’s solo track, “Seven,” climbing the U.K. charts has taken the music industry by storm. The catchy melody, heartfelt lyrics, and Jungkook’s charismatic delivery have resonated with fans and new listeners alike, propelling the song towards chart-topping success.

Factors Contributing to Jungkook’s Triumph:

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  1. ARMY Power: BTS boasts an incredibly dedicated fan base known for their unwavering support. The passionate ARMY has rallied behind Jungkook, streaming and promoting “Seven” across various platforms, propelling it to the forefront of the U.K. music scene.
  2. Global Appeal: BTS’s international popularity has paved the way for individual members’ solo success. Jungkook’s immense talent, combined with the band’s global recognition, has helped him garner attention and win over audiences beyond the ARMY.
  3. Artistic Growth: Jungkook’s growth as an artist is evident in his solo endeavors. His ability to convey emotions and connect with listeners through his music has struck a chord with fans, creating a strong connection that fuels his solo success.

The Impact of BTS: BTS’s impact on the music industry extends far beyond chart success. Their music promotes self-love, empathy, and resilience, empowering listeners worldwide. Their massive following and achievements open doors for K-pop and Korean artists, fostering cultural exchange and expanding the global reach of Korean music.

Celebrating Music Diversity: The rise of Jungkook’s “Seven” on the U.K. charts also highlights the increasing diversity and inclusivity of the music landscape. It demonstrates that language is no barrier to connecting with audiences, and artists from different cultures can achieve widespread acclaim and recognition.

global impact their devoted fan base. It showcases the power of music to transcend boundaries and connect people from diverse backgrounds. As BTS continues to push boundaries and redefine the music industry, we can eagerly anticipate more solo endeavors from its talented members, each poised to make their unique mark on the world stage.

Note: This blog post is a fictional creation and does not reflect real events or statements by individuals.

Report: BTS Member Jungkook’s Song “Seven” Poised to Top the U.K. Charts

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In exciting news for BTS fans worldwide, Jungkook’s highly anticipated song “Seven” is on track to top the U.K. charts. The track, which showcases Jungkook’s unique vocal prowess and captivating sound, has been well-received by both fans and critics alike. According to recent reports, the song is rapidly climbing the U.K. singles chart, with many expecting it to claim the number one spot soon.

#Jungkook #Seven #UKCharts #BTS #KpopSuccess #Billboard #KpopSolo #BTSArmy #JungkookSeven

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