Sebi may tighten norms for firms' audit committees

Regulator's board meeting on Sept 18; to take stock of action against 331 suspected shell firms

Capital markets regulator the Securities and Exchange Board of India (Sebi) is likely to tighten norms pertaining to constitution and functioning of the audit committees for listed companies. These committees act as independent oversight bodies responsible for transparency and accuracy in functioning of company and the board.

According to sources, the markets regulator plans to look at how India Inc is appointing members on the audit committee, their qualifications and whether they are discharging their duties, without undue influence of the promoters.

‘Proceedings of audit committee and reconstitution of the same’ is among the top agenda of the Sebi board