Under these clauses, a staff member who wishes to report fraudulent activity or misconduct in the company must have access to the company`s audit committee.  The company must then share this information with all staff working there. The guidelines in Regulation 18 are intended to create a sense of responsibility among employees of a company and to inform them that their right and privilege are to be vigilant. As an extension of the right of employees to whistle against illegal acts, the company also reaffirms that it protects such an employee from any form of aggravation or dismissal. The content of Article 49 is now contained in the SEBI Regulation 18 Regulation Regulation (LODR). Regulation 18 is an agreement between stock exchanges and listed companies.  The list agreement requires all listed companies to set up a mechanism called whistleblower policy. It provides its employees with a platform to report to the Council any type of embezzlement, fraud or real and unethical behaviour. CIR/CFD/DIL/1/2012 February 8, 2012 All scholarships, Mr/Madame, Sub: Changes to equity listing agreement 1. As part of the SEBI™ which reviews the listing conditions, certain changes to the Equity Listing Agreement are made here. The full text of the changes to be made in the list agreements is in Schedule 1. The gis well […] The Securities and Exchange Board of India issued a circular in the wake of the april 17, 2014 circular amendments to clauses 35B and 49 of the listing agreement.
In addition, after the start of the Corporate Act, in 2013, the Ministry of Social Affairs issued various circular appointments […] b) of all companies that were required to comply with the proposed Article 49 requirement for review, i.e. all listed companies with a remunerated equity capital of 3 kronor or more or a net worth of 25 kronor or more at any time in the company`s history. Companies are required to meet the requirements of the clause on March 31, 2004 or before March 31, 2004. A SEBI circular of 26.8.2003 changed the principles of corporate governance contained in the standard list agreement. The amended principle requires the company to adopt its own whistleblowing policy. This mechanism allows staff to be detected of any irregularities that prevail in the company, the same thing that can be brought to the attention of management. Sebi adopted these guidelines for companies in an amendment to Article 49 of the listing agreement in August 2003. “Corporate governance aims to maintain a balance between economic and social objectives as well as individual and local objectives. The governance framework is intended to promote the efficient use of resources and to require responsibility for the management of these resources.