Friday, December 30 2005 18:08 Hrs (IST) - World Time -

Mumbai: Market regulator Securities and Exchange Board of India (Sebi) today (Dec 30, 2005) said that there will be no extension to the Clause 49 deadline of December 31, 2005.

"There will be no extension to the Clause 49 deadline of December 31, 2005," Sebi Chairman M Damodaran told reporters here.

Clause 49, which is popularly known as Corporate Governance clause, make mandatory for all companies that there should be at least 50 per cent independent directors on its board.