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Friday, June 12, 2009

Daily Tips For Great Management

TODAY TIPS NO :- 20

Securities and Exchange Board of India (Sebi) chairman CB Bhave said the regulator is in the final stages of bringing out norms for delisting companies from the stock market.
“As far as delisting norms are concerned, we are at a fairly advancedstage. The deregulation norms of Sebi can be issued along with the delisting rules that the government is required to notify under the Securities Contracts (Regulation) Act (SCRA). We are in constant talks with the government and we will issue the rules simultaneously,” Bhave said. He added that the present practice of quarterly financial reporting by the Indian listed companies will continue to stay as part of the transparent and best corporate practices.
While agreeing that there are some pressure on the management side, Bhave said, “We have been continuing this practice for about a decade. We don’t see any reason to go back to the old system.”
He also said the watchdog has formed a committee to study the issues to be addressed to develop a vibrant debt market in India. Bhave noted that some of the firms were not following the listing agreement on appointment of independent directors and notices have been issued to them for violation under the Sebi’s adjudication procedure. However, he refused to disclose the number of companies. Sebi’s October decision on P-notes remains unchanged, he added.
PTI ADDS:
The market regulatory body on Tuesday said it has proposed to reduce the timeframe of issuing of rights issue from the present 109 days to 60 days. “We are hoping that we can bring it down further but we need to increase the processes also,” Bhave said.
Referring to a query that the rights issue can be set through DeMAT process, he said they were examining the suggestion. “Our hope is that in the next few months, we will complete our examination of this issue, maybe put it on our website to get the people’s comments and then we would take a decision,” the Sebi chairman said.

IF YOU WANT TO GET MORE INFORMATION ABOUT SEBI AND IT'S GUIDELINE OR VISIT IT'S CURRENT ACTIVITIES CLICK ON THESE BELOW LINKS :

www.sebi.gov.in
( SEBI protects the interests of investors in securities and promotes the development of the securities market through appropriate regulation. )

www.investor.sebi.gov.in
( SEBI investor awareness website. )

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