Company: WIT
Filing Date: 2025-05-22
Form Type: 20-F
Source: 0000950170-25-076303
Chunk: 179

Company: WIPRO LTD
Filing Date: 2025-05-22
Form: 20-F
Item: Item 16G
Chunk 179
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Item 16G. Corporate Governance
Since our securities are listed on recognized stock exchanges, we are required to provide a concise summary of any significant ways in which our corporate governance practices differ from those followed by domestic companies under the listing standards of that exchange. Being a foreign private issuer, we are permitted to follow home country practice in lieu of the provisions of Section 303A of the NYSE Listed Company Manual, except that we are required to comply with the requirements of Sections 303A.06, 303A.11 and 303A.12(b) and (c) thereof. With regard to Section 303A.11, although the Company’s required home country standards on corporate governance may differ from the NYSE listing standards, the Company’s actual corporate governance policies and practices are generally in compliance with the NYSE listing standards applicable to domestic companies. Some of the key differences between the requirements in India as per the currently applicable listing regulations and those as per the NYSE listing requirements are as follows:
•Listing regulations with the Indian Stock Exchanges state that where the chairperson of the Board of Directors is a non-executive director, at least one-third of the Board of Directors shall comprise of independent directors and where the listed entity does not have a regular non-executive chairperson, at least half of the Board of Directors shall comprise of independent directors. On the other hand, NYSE listing requirements specify that a majority of the Board of Directors must consist of independent directors. 
•Listing regulations with the Indian Stock Exchanges require that at least two-thirds of the members of the Audit, Risk and Compliance Committee and Nomination and Remuneration Committee be independent directors while the NYSE listing requirements specify that all the members of the Audit, Risk and Compliance Committee and Nomination and Remuneration Committee must be independent directors. 
•A Shareholders/Investors Grievance Committee (Stakeholders Relationship Committee) is mandatory under listing regulations with the Indian Stock Exchanges. This is not a requirement under NYSE listing requirements. 
•Criteria for determining directors to be independent also differ between the two countries’ listing requirements. 
•Listing regulations with the Indian Stock Exchanges require submission of a report on all Related Party Transactions and publication of the same on the company’s website in the format specified by the accounting standard on a half-yearly basis.
•Listing regulations with the Indian Stock Exchanges require detailed reasons to be provided in the event of any resignation by statutory auditors or independent directors. 
•Listing regulations with the Indian Stock