Home > Business > PTI > Report
Sebi norms on pvt debt placement soon
January 17, 2003 18:40 IST
Setting a one-year time frame for implementing the suggestions of the Joint Parliamentary Committee, which probed the stock scam, the Securities and Exchange Board of India will shortly come up with disclosure norms for private placement of debt issues by corporates.
"We are going to enhance the disclosure standards of private placement of debt. We will come up with the norms soon," Sebi chairman G N Bajpai told reporters in New Delhi on Friday.
Bajpai said the norms for listed debt instruments were already in place but there was a need to have greater disclosure for privately placed debts also.
The move comes after a spate of private placement of debt issues by corporates without much disclosures.
The Sebi chief said the regulator had set a one-year time frame to complete implementation of the reforms suggested by JPC. "We are coming up with reform measures one after the other," he said.
To create more awareness about the capital markets and the various instruments, Sebi has also written a letter to the HRD ministry to include the subject from Class 11 onwards.
The regulator started the nationwide securities awareness campaign in New Delhi on Friday, which would be carried out in smaller towns as well.
Bajpai said the investors' education programme would have an indirect effect on the markets as there would be less volatility once masses are aware of the risks.
© Copyright 2003 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
|