The Securities and Exchange Board of India (Sebi) introduces new regulations for listed companies to reduce the influence of promoters and to empower independent directors. Several promoter-driven companies do deserve such regulations. But what about cases where the government is the promoter? Public sector units (PSUs) get exemptions from Sebi regulations for board governance. Why are they treated like a special case for applying the Companies Act and Sebi supervision? Surely, the same corporate regulations must apply. Research on the problems faced by PSU management are well-documented. (https://web.iima.ac.in/assets /snippets/workingpaperpdf/.pdf)
Renewed and transformed business institutions, whether government, promoter or professionally- led, are
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