SEBI sets up panel to improve corporate governance

Tags: Stock Market
Securities and Exchange Board of India (SEBI) has set up a committee to help improve corporate governance of listed companies, it said on Friday, in the light of recent high-profile corporate tussles.

Apart from helping ensure the independence of independent directors, the panel will also advise the market regulator on resolving issues related to accounting, auditing and board’s disclosure practices, SEBI said in press release.

Recent high-profile corporate tussles, including the one between Tata conglomerate and former chairman Cyrus Mistry, put the focus on corporate governance in India and highlighted the need for better oversight and tighter regulation of company boards.

SEBI Chairman Ajay Tyagi, having served as additional secretary in the finance ministry's economic affairs department since 2014 before taking the top job at the regulator earlier this year, was expected to focus on shoring up corporate governance norms.

The committee, headed by Kotak Mahindra Bank Managing Director Uday Kotak, will also include members from the corporate world, stock exchanges, law firms, investors groups, academicians, and the market regulator itself, SEBI said.

EDITORIAL OF THE DAY

  • Modi’s team seems to have made modest inroads into Trump’s White House

    The moot question being asked in political circles is this: where do Indo-US relations go after the hectic two-day whirlwind tour of prime minister Na

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Freedom Files : THE LAST SHEPHERD

The deep sense of foreboding was still to set in, ...

Susan Visvanathan

Ideologies are myopic

While multinationals have stabilised in India, and recruitment portals are ...

Rajgopal Nidamboor

Your attitude can transform your life

Our attitude reflects our feelings, beliefs, or frame of mind, ...