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Shooting sparrows with cannons?

Sebi's amendments aimed at strengthening corporate governance fail to reconcile the virtues of public disclosure and protection of private domains

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Illustration: Binay Sinha

6 min read Last Updated : Jul 31 2023 | 10:06 PM IST

The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations came into effect on July 14, 2023, following consultations on strengthening corporate governance at listed companies. The amendments seek to enhance transparency and reduce asymmetry among shareholders in terms of both information as well as empowerment for decision-making.

One of the key amendments is the introduction of the disclosure obligation under Regulation 30A, read with clause 5A of Paragraph A of Part A of Schedule III. It mandates the disclosure of agreements entered into by shareholders, promoters, related parties, directors, key managerial personnel or KMPs

Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper

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