Photo of Smruti Shah

Partner in the General Corporate Practice at the Mumbai office of  Cyril Amarchand Mangaldas. Smruti specialises in foreign investments into India, public and private mergers & acquisitions, joint venture and the SEBI Takeover Regulations. She has advised top tier Indian as well as foreign companies, private equity players and the promoters and understands the deal dynamics from the investor’s and the target’s perspective.

She is core member of the firm’s Germany Desk. Smruti is also a qualified Company Secretary. She can be reached at


The Securities Exchange Board of India (“SEBI”), in its board meeting dated February 15, 2022, announced the decision to appoint separate Chairperson/ Chairman and Managing Director in the top 500 listed companies as voluntary. This decision comes ahead of the April 01, 2022, deadline, to mandatorily split the roles of Chairperson and Managing Directors (“MD”)/ Chief Executive Officer (“CEO”), against the backdrop of a mere 4% incremental improvement in compliance by top 500 listed companies.[1]Continue Reading SEBI relaxes separation of roles of Chairperson and CEO – A blessing in disguise?