SEBI tightens disclosure norms for companies involved in M&A
The Securities and Exchange Board of India (SEBI) has directed listed companies to make accurate and timely disclosures related to mergers and acquisitions (M&A) and asked stock exchanges to be more vigilant. Exchanges have been instructed to monitor share price movements and investor activity b
SEBI warns trustees of VC funds over investment lapses
The Securities & Exchange Board of India (SEBI) has issued show cause notices to IDBI Trusteeship Services and Vistra, two trustee companies, in connection with investment lapses by venture capital funds. Even though trustees do not have a role in the day-to-day functioning of alternative invest
Independent directors’ exits are up 14.5%
In FY23, the number of independent directors leaving company boards grew by 14.5%. According to a report in The Financial Express, 881 IDs left their jobs in India during the previous fiscal year. Due to corporate fraud and accounting irregularities, independent directors are under heightened scruti
Beginning this FY, companies must keep an audit trail
New accounting regulations mandate that companies must maintain a complete and uninterrupted record of all changes made to their financial statements and are prohibited from deactivating the audit trail feature in their accounting software, starting from this fiscal year. The Companies (Accounts) Am
R.P.P. Infra’s Independent Director Rangasamy has resigned
R.P.P. Infra Projects Limited has reported that RangasamyKulanthasamy, an Independent Director, has resigned from his position on April 21, 2023, citing health reasons as the cause of his limited mobility. He is a qualified member of the Indian Institute of Bankers and holds a Master’s degree
Aadhaar to become essential for corporate filings
To improve the security of statutory files and ensure accountability, the Indian government intends to make Aadhaar biometric verification mandatory for designated directors and professionals, such as company secretaries, involved in posting statutory documents. Those who are authorised to submit pa
Aman Kumar Singh has stepped down from NDTV board
Aman Kumar Singh, the head of corporate affairs and corporate brand custodian for the Adani Group, has resigned from his position on the board of NDTV Ltd due to other commitments. Singh, a former Indian Revenue Service Officer, was a prominent bureaucrat in the Raman Singh-led BJP government in Chh
