Sebi seeks clarification on TCS flotation

The Securities and Exchange Board of India has sought clarifications from Tata Consultancy Services (TCS) prior to its tapping the capital market.

"In principal, TCS has been cleared by Sebi but there are certain observations sought from the company, which has to be processed," G N Bajpai, chairman of Sebi, told reports on the sidelines of the launch of a programme on Corporate Social Responsibility organised by the Bombay Stock Exchange. He did not, however, specify the nature of the observations made by it.

On Monday, Sebi indicated in a release that observations had been issued by it on the TCS offer document.

The Bombay Stock Exchange (BSE) in one of its major initiatives in Corporate Social Responsibility today launched Economic Education & Entrepreneurial Development for underprivileged youths.

The exchange has undertaken the task to train and educate the underprivileged youths of Mumbai, along with Kherwadi Social Welfare Association. This is tune with BSE's adopting best corporate practices.

Bajpai for a change opted to speak in Hindi and appreciated the exchange's move to create awareness among the youth.

"As an organisation, BSE is conscious of its responsibility towards the society and these initiatives are aimed to provide sustainable livelihoods through youth-friendly programmes. The programme is to train young adults from economically weak backgrounds an opportunity to learn and understand the business skills which will help them to earn a living in the process," said Manoj Vaish, executive director & CEO of BSE.

The course aims to teach basics in economic education and business skills to school dropouts. The course is designed to generate and sustain interest and bring about a sense of involvement on part of the students.

Through the course, the students understand that these are not merely theoretical concepts but one having applicability in their daily lives and that it is also important that the students understand these in the light of their own daily experiences and have active involvement in this process of understanding.