The 23-member committee formed under the chairmanship of Mr Uday Kotaksubmitted its 170-page recommendations report on 'Corporate Governance in India' to the Securities and Exchange Board of India (SEBI) on 5 October 2017. The committee was formed with the objective of bridging the gap between the global and Indian corporate governance standards. The report broadly tries to address five key areas: (i) improving board effectiveness, (ii) bringing transparency in disclosure of related-party transactions, (iii) elevating accounting and audit practices, (iv) improving disclosure standards and (v) Judicious method in exercising the voting rights. Further, the committee has proposed a transition window, between 2018-2020, which would give the board’s adequate time to effect phased implementation of the recommendations.