SAIL, IOC among 25 PSUs not in line with Sebi norms
New Delhi   02-Mar-2011

As many as 25 PSUs, including blue-chip companies like IndianOil, SAIL, ONGC and Bhel, are not compliant with market regulator Sebi’s norms on the representation of independent directors on their boards, Parliament was informed on Tuesday. Under Clause 49, independent directors are to have at least 50% representation on the board of listed entities if chairman is an executive member, or at least one-third in case chairman is non-executive.