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  3. Companies Act V/s SEBI (LODR): Dear Sir, I found similar provisions regarding the Nomination and remuneration committee, Stakeholders Relationship Committee, Related party transactions, independent director and Vigil mechanism etc. in the SEBI (LODR) regulations as well as in the Companies Act. So my query is which one will prevail or override or supersede? also when these areas are already governed by the Companies Act, then what is the need of separate SEBI regulations? Thank You.
Questions › Category: CA-Final Corporate Governance › Companies Act V/s SEBI (LODR): Dear Sir, I found similar provisions regarding the Nomination and remuneration committee, Stakeholders Relationship Committee, Related party transactions, independent director and Vigil mechanism etc. in the SEBI (LODR) regulations as well as in the Companies Act. So my query is which one will prevail or override or supersede? also when these areas are already governed by the Companies Act, then what is the need of separate SEBI regulations? Thank You.
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Vinod VyasVinod Vyas asked 7 years ago

Dear Sir, I found similar provisions regarding the Nomination and remuneration committee, Stakeholders Relationship Committee, Related party transactions, independent director and Vigil mechanism etc. in the SEBI (LODR) regulations as well as in the Companies Act. So my query is which one will prevail or override or supersede? also when these areas are already governed by the Companies Act, then what is the need of separate SEBI regulations? Thank You.

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RaviRavi Staff answered 7 years ago

Hello Vinod
As correctly observed many topics are same, from exam point of view content studied in law can be applied here also as it is. So you study once and apply twice.
SEBI wants complete , detailed coverage of corporate governance norms at one place, they don’t want to do fillers job, where they continuously track company act, observe shortcomings and issue additions . This will make there life difficult, in the process SEBI will become subordinate to MCA.
In practical life companies will have to go for harmonious interpretation.