Function of audit committee: The minimum number of Audit Committee meetings be increased to five every year. The audit committee should also review the utilization of funds of the listed entity infused into unlisted subsidiaries including foreign subsidiaries where the total amount of loans/advances/investment from the holding company to the subsidiary exceeds 100 crore or 10% of the asset size of the subsidiary, whichever is lower.
Unpublished price sensitive information: The committee has proposed a transparent framework to regulate the information rights of certain promoters and significant shareholders to prevent any abuse and unlawful exchange of unpublished price sensitive information (UPSI).
