Speaking to Ajay Tyagi, Chairman of the Securities and Exchange Board of India (SEBI), many companies have discrepancies in disclosure or disclosure. The SEBI chief on Wednesday advised such companies not to take it as a ‘check box process’. There are two sets of information submission from listed companies according to SEBI regulations. Information or disclosure must be provided at the specified time interval for which the format is determined by the controller. The second is in the form of information on the ‘important thing’. In this, certain events / issues are considered important information, which is necessary to inform the public.
The SEBI chief said there was little gap in the details of the companies on both fronts. He added that the information listed should not be viewed as a compulsory ‘check box’ or a yes / no decision-making list. He said there was a lack of information provided by many companies in some areas.
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Tyagi said, “Although all the details are covered in some periodic details such as annual reports, in some cases it takes more than a check-box process. It’s not called OK. He said that records such as financial results, annual reports and business performance reports should meet the quality standards that investors deserve.
Tyagi said not only periodic disclosures, but also that sometimes companies do not even report major events. In many cases, companies are asked to clarify by stock exchanges after the media publishes articles. Then companies respond to exchanges. “It’s definitely not the right path,” he said.
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