The markets regulator also made it easier for banks to acquire control in distressed listed companies, by converting their debt into equity, while it tightened the noose on entities indulging in market manipulation and insider trading by selective leak of information at the cost of investors.
Besides, Sebi also announced a roadmap for the new fiscal, beginning next month, with regard to new norms to help young entrepreneurs raise funds through listing of start-ups and crowd-sourcing, while it would streamline and strengthen its enforcement process for better efficiency.
Sebi also pitched for allowing pension money into capital markets and creating an enabling environment for REITs (Real Estate Investment Trusts) to flourish, after Finance Minister Arun Jaitley addressed the board members and top officials of the regulatory authority in his post-Budget meeting with them.
Jaitley also reviewed the state of economy and the capital markets and explained his Budget proposals. He discussed the capacity building and other infrastructure needs for merger of commodities regulator FMC with Sebi to create a unified markets regulator.
Tightening its corporate disclosure norms, Sebi said such disclosures would need to be made "as soon as reasonably practicable", but not later than the given time limit.