Financial Daily from THE HINDU group of publications
Friday, Apr 19, 2002
Financial Daily from THE HINDU group of publications Friday, Apr 19, 2002 |
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Corporate
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Corporate Governance SEBI chief for rating of corporate governance Our Bureau
MUMBAI, April 18 IN an effort to improve corporate governance standards, the SEBI Chairman, Mr G.N. Bajpai, on Thursday suggested rating of `corporate governance practices' in companies. Addressing a seminar on Corporate Governance organised by the Assocham, Mr Bajpai said ``there should be ratings of corporates on the basis of their corporate governance standards''. However, Mr Bajpai did not indicate whether the concept would be made mandatory as part of SEBI's corporate governance regulations. The SEBI Chairman had recently indicated a review of corporate governance guidelines formalised by the Kumar Mangalam Birla committee. The suggestion comes in the wake of poor standards of corporate governance in a number of Indian corporates. Currently rating firm ICRA rates corporate governance practices in companies. Mr Bajpai said poor corporate governance was one of the reasons for the investor losing interest in the stock market. He cited the case of the primary market. ``Around 8-10 years ago, investors sentiment was very high while investing in the IPOs, but now companies are shy of coming out with IPOs''.
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