HALISTER1: SEBI Aims to Protect Shareholders, Create Long-Term Value: IIAS

SEBI Aims to Protect Shareholders, Create Long-Term Value: IIAS

(Bloomberg) -- Recommendations of final report of SEBI Corporate Governance panel submitted Thursday “are aimed at achieving the dual objective of shareholder protection and long-term value creation” by companies, investor advisory firm Institutional Investor Advisory Services writes in note to investors.
  • Proposals push corporates to improve board effectiveness, enhance oversight over group entities, tighten control over related-party transactions, provide timely disclosures, increase focus on audit quality, facilitate investor participation
  • Recommendations are “grounded in market realities, and benchmark governance practices with local and global practices”
  • Report builds on legal framework established by 2013 Companies Act and SEBI Listing Obligations and Disclosure Requirements, putting recommendations “within reach of corporates”
    • Transition window from between 2018 and 2020 gives boards time to adjust allowing for phased implementation of recommendations
To contact the reporter on this story: Santanu Chakraborty in Mumbai at schakrabor11@bloomberg.net To contact the editors responsible for this story: Divya Balji at dbalji1@bloomberg.net Jonathan Annells

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Source: BFW (Bloomberg First Word)

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