The Hindu Business Line : Why an abridged balance-sheet?

The SEBI circular regarding provision of abridged balance-sheet to shareholders is a rather unwelcome step from the latter's point of view. In an era of transparency and high corporate governance standards, the shareholders should instead be provided with more information about the company — its profitability, social accountability, impact on environment and sustainability vis-à-vis global competition.

Even the information now available in annual reports is inadequate, and does not provide information on several issues that impact the stakeholders. Hence, the SEBI directions should rather be otherwise — to provide more and better information to the shareholders in the annual report, as many of them may not have access to the Internet.

The cost of printing such additional information would be minuscule compared to the turnover and profitability of many companies.

M. Sethuraman

Tiruchirapalli

Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in

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