Vedanta announces appointment of U K Sinha as non-executive independent director
, ET Bureau|
Updated: Mar 13, 2018, 01.22 PM IST
KOLKATA: Vedanta Limited has announced the appointment of U.K. Sinha as a Non-Executive Independent Director with effect from close of business hours on March 13, 2018.
The company's board of directors in their meeting held on March 13, 2018 approved the appointment of Mr. Sinha who has earlier served as the Chairman of Securities and Exchange Board of India (SEBI) from February 2011 to March 1, 2017. Mr Sinha has been instrumental in bringing about key capital market reforms.
Under his leadership, SEBI introduced significant regulatory amendments to the various acts enhancing corporate governance and disclosure norms. Prior to his stint at SEBI, he was the Chairman & MD of UTI Asset Management Company Pvt. Ltd. and has also worked for Department of Economic Affairs at Ministry of Finance.
Speaking on the development, Navin Agarwal, Chairman Vedanta Limited, said: “We warmly welcome Mr. UK Sinha on the Board. Mr. Sinha is an architect of strong regulatory regime for India’s capital markets. As a corporate with highest standards of corporate governance and ethics, we believe, this will be a befitting association.”
Commenting on his new role, U.K. Sinha said: “In the current environment, with greater emphasis on disclosure and governance for corporate India, I am glad to contribute to Vedanta Limited achieving greater levels in its corporate governance practices."
The company's board of directors in their meeting held on March 13, 2018 approved the appointment of Mr. Sinha who has earlier served as the Chairman of Securities and Exchange Board of India (SEBI) from February 2011 to March 1, 2017. Mr Sinha has been instrumental in bringing about key capital market reforms.
Under his leadership, SEBI introduced significant regulatory amendments to the various acts enhancing corporate governance and disclosure norms. Prior to his stint at SEBI, he was the Chairman & MD of UTI Asset Management Company Pvt. Ltd. and has also worked for Department of Economic Affairs at Ministry of Finance.
Speaking on the development, Navin Agarwal, Chairman Vedanta Limited, said: “We warmly welcome Mr. UK Sinha on the Board. Mr. Sinha is an architect of strong regulatory regime for India’s capital markets. As a corporate with highest standards of corporate governance and ethics, we believe, this will be a befitting association.”
Commenting on his new role, U.K. Sinha said: “In the current environment, with greater emphasis on disclosure and governance for corporate India, I am glad to contribute to Vedanta Limited achieving greater levels in its corporate governance practices."
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