Article 49 of the SEBI Corporate Governance Guidelines in the amended version of October 10, 2004 significantly changed the definition of independent directors, strengthened the competence of audit committees, improved the quality of financial information, including transactions with related parties, and the returns on public/rights/preference issues that require boards of directors to adopt a formal code of conduct, require ceo/CFO validation of accounts, and improve shareholder advertising. Some non-binding clauses, such as whistleblower policy and the limitation of the mandate of independent directors, were also included.  The list means the admission of securities to trading on a recognized exchange. The Separate Rating Department authorizes the listing of corporate securities by the provisions of the Securities Contracts (Regulation) Act of 1956, Securities Contracts (Regulation) Rules, 1957, Companies Act, 2013, Guidelines issued by SEBI and Rules, Bye-laws and Regulations of the Exchange. Companies enter into a list agreement with the stock exchange and provide certain information and perform certain actions. Listing Department monitors business compliance. The provisions for the establishment of the Risk Management Committee apply to the 100 companies listed after market capitalization at the end of the previous year. Section 49 also applies to other listed companies that are not corporations, but entities or are subject to other laws (for example, banks. B, financial institutions, insurance, etc.). Term 49 applies to the extent that it is not contrary to its respective statutes and directives or directives of the relevant regulatory authorities. The company`s code of conduct must include the obligations of independent directors in accordance with the law. An independent director is responsible for the actions of a company that occur to his or her knowledge or when an independent director does not respond attentively to the requirements of the listing agreement.
 Available for www.sebi.gov.in/cms/sebi_data/attachdocs/1410777212906.pdf, last call on 31.07.2016. In late 2002, SEBI established a committee that assessed the relevance of current corporate governance practices and proposed improvements. Based on the committee`s recommendations, SEBI adopted an amended clause 49 (the “revised clause 49”), which came into force on January 1, 2006.