New Delhi: After the SEBI board met early on Wednesday morning, its Chairman CB Bhave made a series of announcements in the evening.
He indicated that SEBI will be increasing its watch on India Inc to stop another Satyam-like scam from happening again.
The regulator will says it will change listing norms to make them more stringent and companies more accountable.
Bhave admitted they still do not know how big the Satyam scam is and that SEBI was still determining the real size of Satyam's deposit.
SEBI say promoters must disclose shares pledged and say must disclose them periodically.
“For the event-based thing there will be certain limits and those will be notified in the changes that we make to the regulations. As far as the periodic disclosure is concerned that will not have any limit it will clearly have to say that out of the promoters holdings how many shares are incumbent,” said Bhave.
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