Out of top 1000 companies listed on NSE, 336 would need to appoint a woman independent director by 1 April 2020 following a decision by market regulator SEBI to accept recommendations made by Kotak committee on the matter. As many as 155 companies out of top 500 NSE listed entities by market capitalisation would need to appoint a woman independent director by 1 April 2019, Prime Database research report shared with FE Online said. In its last board meeting\u00a0for the running fiscal that was held on Wednesday, SEBI accepted 40 out of 80 recommendations of Kotak Committee pertaining to a variety of issues including rationalisation of expense ratio in mutual funds, appointment of independent woman directors, segregation of roles of Chairperson and MD\/CEO, ways to strengthen algo trading and others. The market regulator accepted 40 out of 80 Kotak committee recommendations without any modifications. It accepted 15 recommendations with slight changes. The Kotak committee had released its report on corporate governance on 5 October 2017. The latest decision by SEBI is likely to have significant implications for the 1729 NSE-listed companies especially related to the board of directors. The decision by market regulator to separate roles of CEO\/MD and Chairperson will affect 165 companies out of top 500 NSE listed entities. This decision will initially be made applicable to the top 500 listed entities by market capitalisation, research report by Prime Database said. In a bid to reduce \u00a0cost of investing into mutual funds, SEBI reduced the additional expense from mutual funds to 5 basis points from 20 basis points earlier. The expenses have been revised by 15 basis points. Sebi in 2012 had allowed mutual funds to charge 20 basis points of assets under management (AUM) of the scheme in lieu of exit loads, or the sum collected from investors when they sell holdings.