PR No – 76
19th April, 2024
New Delhi
Well regulated capital market helps in creating virtuous cycle for the positive economic activities, said Mr. P K Rustagi, Chair, Corporate Affairs Committee, PHDCCI at Seminar on SEBI Regulations organised by industry body PHDCCI
This helps in setting up large capital intensive projects which in turn help creation of jobs. Mr. Rustagi said that SEBI has been playing a very constructive role in regulating the capital market and we must compliment SEBI for creating Indian Securities market at par with the best in the world. He however, highlighted that there is a multiplicity of regulatory frameworks which overlaps with the Companies Act.
He called for simplification of provisions relating to Disclosure of material events; penalties to the stock exchanges irrespective of the amount; over regulation of provisions relating to Related Party Transactions. He further called for issuance of SEBI circulars on a quarterly basis.
Mr. Nitin Atroley, Partner and Head – People, Strategy & Corporate Affairs, KPMG in India said that there is a need to interact with SEBI with the spirit of partnership to harness a model of growth for a promising growth of economy. He said that there is a need to ensure protection of investors in capital markets. India’s ambitious target of becoming a developed country by 2047 calls for relying on foreign capital, which will come from a well regulated Indian Capital markets. It is important to build the trust of not only the domestic investors but global investors and our regulators are working in the direction of building investors’ confidence & ensuring transparency.
The session was also attended by Mr. Manish Gupta, Former President, ICSI; Mr. Pradeep Chaturvedi, Vice-President, Institute of Directors who also shared views on the subject.
Dr. Ranjeet Mehta, Executive Director, PHDCCI gave the Welcome Address. He called delegates to submit suggestions for onward submission to the regulatory authorities.
Mr. Kaushal Kishore, Chartered Accountant and Partner, B S R & Co. LLP made a presentation on Recent Amendments – SEBI (LODR) with special focus on Regulation 30 Disclosures. Mr. Rishi Kapoor, Co-Chair, Corporate Affairs Committee, PHDCCI deliberated on the SEBI Debt Listing Regulations, changes and impact – compliance challenges for high value debt listed entities & their subsidiaries. Ms. Mridul Sharma, Associate Partner, Mehta & Mehta made a presentation on Insider Trading Regulations : Analysis and Impact including Compliance Challenges. Mr. Lokesh Dhyani, Partner, Aekom Legal covered the analysis of Latest Case Studies & Judicial Landmark Decisions on SEBI LODR.
Mr. Sandeep Dinodia, Co-Chair, Corporate Affairs Committee, PHDCCI gave the concluding remarks & proposed the vote of thanks.
Warm Regards,
Media Division
PHD Chamber of Commerce and Industry