'I don't think it is right to remove him over one lapse. The focus should be on restoring operations, not on removing a key management personnel.'
Painting a positive outlook of the Indian capital market, the new SEBI chairman M Damodaran on Friday asserted that the bourses were better regulated now than in the past and his attempt would be to take it forward.
M Damodaran took a bow as Sebi chief after many bold initiatives during his 3-year tenure.
An interview with Sebi chief M Damodaran.
M Damodaran, chairman and managing director of Industrial Bank of India was on Thursday appointed the chairman of Securities and Exchange Board of India.
The Central Bureau of Investigation (CBI) will soon quiz Securities and Exchange Board of India (SEBI) Chairman U K Sinha as well as former head of the regulatory body M Damodaran in connection with a Preliminary Enquiry (PE) to probe granting sanction to Jignesh Shah-founded Financial Technologies (India) and MCX-SX.
Stock exchanges' levy of penalties, ranging from Rs 3 lakh to Rs 12 lakh, on public-sector undertakings (PSUs) for lapses in board composition for the 2024-25 October-December quarter has brought forth issues of governance. Last month, 16 PSUs requested bourses to waive these penalties, arguing that these lapses were neither due to negligence nor within their control, as the appointment of directors is managed by the government.
NEDICT has also got in touch with companies, which will be limited to the role of 'donors'.
Terming the newly constituted board of Satyam Computer as "able", former Sebi chairman M Damodaran today expressed the confidence that the new leadership will chalk out ways to tide over the crisis.
At the same time, he cautioned authorities against giving corporate governance and rating awards to companies before they actually prove that they are practising the same. Pointing out that the people were taken in by the wrong numbers given by the company, he said people should always be on guard and ask more questions before making investment decisions.
The Securities and Exchange Board of India is in talks with the department of company affairs for seeking power to regulate stock splits below a certain value, according to Sebi chairman M Damodaran.
Sebi chief M Damodaran recently said that regulations for mutual fund distributors should be introduced.
The decision to quiz Sinha, as also former Sebi Chairman M Damodaran, was taken after examination of another former Sebi chief C B Bhave earlier this month, during which the agency sleuths were told that public interest was involved in grant of licence to MCX-SX to trade in currency derivatives.
The Sebi board has cleared new categories of FIIs; they will be put on website shortly. Sebi has received a large response from both India and abroad on its proposals to restrict Participatory Notes. The 18-month time frame given for FIIs to wind up derivatives-based P-Notes is enough, M Damodaran, Sebi chief said.
Coinciding with surging stock market regulator SEBI on Wednesday asked scribes not to fall prey to motivated and planted information on listed companies through "informal briefing" saying "readers deserve a better deal".
The Securities and Exchange Board of India is planning to bring in regulation to rein in 'vested content' in the media on stock markets keeping in mind the interest of average investors.
Market regulator Securities and Exchange Board of India on Wednesday said it will take appropriate action on complaints filed by Reliance Industries' vice chairman and managing director Anil Ambani
The Securities and Exchange Board of India has cautioned small investors to take 'informed decisions' and asked them to look at safer instruments such as mutual funds.
Market regulator SEBI on Tuesday said it would ease norms for public offers and delisting of shares shortly, but step up market surveillance.
"This decision of removing initial issue expense will make close-ended mutual fund schemes less expensive for retail investors", Sebi chairman M Damodaran said while briefing reporters after the board meeting. The Sebi board also cleared the draft proposal for listing of debt securities, ease disclosure norms for existing debt market securities and paved the way for permanent registration of capital market intermediaries.
Market regulator Securities and Exchange Board of India on Saturday maintained a strict silence over the settlement reached between the Ambani brothers over the ownership issues of Reliance empire, ending perhaps the longest and fiercest battle in co
The institute would have six different schools with various topics and train and educate investors on market, Sebi Chairman, M.Damodaran, said, interacting with the members of various associations in Coimbatore on Monday night.
Some of the world's biggest foundations, including Bill & Melinda Gates Foundation, pension funds such as CalPERS, university funds and endowments are registered as foreign institutional investors with the Securities and Exchange Board of India for several years now.
Market regulator SEBI on Monday said it was considering allowing institutions to short sell in the capital markets and expects to see it through in the current calendar year.
Sebi chairman M Damodaran on Thursday suggested reduction of regional stock exchanges in the country.
Bhave, a former civil servent, had headed the country's leading depository, National Securities Depository Limited, and was one of the first senior executive directors to come on Sebi's board.
Finance Minister P Chidambaram on Tuesday said the regulator -- the Securities and Exchange Board of India -- was keeping a vigil on the market movement with the Sensex crossing the 10,000 mark.\n
Market regulator Securities and Exchange Board of India on Saturday threatened to impose stiff penalties on companies failing to comply with corporate governance
The boardrooms of India's large listed companies are steadily expanding as corporate governance standards tighten and regulatory compliance rises. Boards of Nifty 100 companies boasted an average of 10.52 members as of FY24, compared to 9.86 in FY21 and 10.48 in FY23, according to the fifth edition of Excellence Enablers' Survey on Corporate Governance, an initiative led by M Damodaran, former chairman of the Securities and Exchange Board of India (Sebi).
The market watchdog along with other regulators is developing bond markets and the current limit on foreign participation in the this markets will move away as the market develops in the next 12 months, said Sebi Chairman M Damodaran.
In the midst of the move to check flow of anonymous foreign funds in the bourses, market regulator Securities and Exchange Board of India said on Thursday there was no evidence of terror money coming into capital markets.
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