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Freeze demat accounts of MDs and CEOs for non-compliance, says Sebi

Regulator proposes to beef up listing obligations and disclosure norms

Illustration: Binay Sinha
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Illustration: Binay Sinha

Khushboo Tiwari Mumbai
The Securities and Exchange Board of India (Sebi) has proposed beefing up listing obligations and disclosure norms in areas such as result-filing by newly-listed companies, expediting appointments of key managerial positions (KMPs) and action on key people in case of non-compliance.

In a consultation paper, the market regulator proposed that the demat accounts of the whole-time directors, including the managing directors and chief executive officers (MD & CEOs) should be frozen, in  addition to  the demat accounts of the promoters, for continued non-compliance.

At present, regulations require freezing of demat accounts only of the promoters in case of non-compliance or

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First Published: Feb 21 2023 | 3:46 PM IST

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