Mumbai : The Securities and Exchange Board of India plans to put in place measures to curb insider trading and misuse of unpublished price-sensitive information through timely announcements by listed companies, the regulator said in its annual report for 2017-18.
In 2017, there were instances of circulation of unpublished price-sensitive information in private WhatsApp groups ahead of their official announcement by some companies on exchanges. Sebi is probing the issue and has directed some companies to conduct internal inquiries on how the data might have been leaked.
The regulator will also implement the recommendations of the Uday Kotak-led committee on corporate governance after these are approved by the Sebi board.
“The sweeping changes in governance standards will cover areas including composition of boards, the make-up of board committees, treatment of subsidiaries, disclosure for related-party transactions, audit evaluations and conduct of annual general meetings,” it said.
New Delhi: Sebi on Wednesday ordered a forensic audit of Parsvnath Developers (PDL), which figured in the list of 331 “suspected shell companies”, on prima facie suspicion of misrepresentation of business by the firm with regard to certain transactions. In an interim order, Sebi said, “the present enquiry is restricted only to contracts/ sub-contracts undertaken by PDL during the period 2009-10, 2010-11 and 2011-12”.
