The Hindu Business Line : Damodaran calls on Chidambaram

THE Securities and Exchange Board of India (SEBI) Chairman, Mr M. Damodaran, today called on the Finance Minister, Mr P. Chidambaram, at his office in North Block.

The capital market regulator described his nearly hour-long meeting with the Finance Minister as a "routine" one. "I keep meeting him regularly on various issues," Mr Damodaran told Business Line. Dr Rakesh Mohan, Secretary, Economic Affairs and Financial Sector, also attended the meeting.

Asked to comment on the Sensex scaling the life-time intra-day peak of 7001.55 on Tuesday, Mr Damodaran said that he would not react or comment on stock price or index movements.

On whether SEBI intends to extend the December 31 deadline for complying with revised clause 49 of listing agreement in the wake of Irani panel recommendations, Mr Damodaran said, "We are only in June and there is still lot of time to go". He also pointed out that the Irani panel report was only a report of a committee.

Asked whether any regulatory issue or corporate governance issue relating to the corporate sector came up for discussion during his meeting with the Finance Minister, the SEBI Chief declined to comment or elaborate on this matter.

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