Regulation 21 of LODR (Listing Obligations and Disclosure Requirements)
Section: Regulation 21 of LODR (Listing Obligations and Disclosure Requirements)
Meeting: Risk Management Committee
Applicability: Applicable to all listed companies
Timeline: The Risk Management Committee meeting shall be held at least once a year, and whenever there is a need to review the risk management framework.
Exemption: There is no exemption provided under the regulation for any listed companies.
Penalty: Non-compliance with the Regulation may result in penalties, which may include fines, suspension of trading, or even delisting of securities. The amount of the penalty may vary based on the nature and severity of the non-compliance.
Reporting Authority: The Risk Management Committee is required to report to the Board of Directors on the risk management framework and related issues. The Board of Directors is responsible for ensuring compliance with the Regulation and disclosing information related to risk management in the company's annual report.
Other: The Risk Management Committee is responsible for identifying, evaluating, and mitigating risks faced by the company. The committee should ensure that the company's risk management framework is adequate and effective in addressing the risks faced by the company. The committee should also ensure that there is proper communication and reporting of risks to the Board of Directors and other stakeholders.
