Shareholders must monitor corporate governance: SEBI chairman C B Bhave

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India CSR News Network

NEW DELHI: Securities and Exchange Board of India (SEBI) Chairman C B Bhave has asked minority shareholders such as mutual funds to be more active in monitoring the corporate governance practices of companies in which they have investments. He called for country-specific approaches to ensure the implementation of corporate governance rules.

C B Bhave Speaking at the valedictory session of the two-day Asia Round-table on Corporate Governance organised by the Organisation for Economic Cooperation and Development (OECD) here on Tuesday, Bhave said the approaches should be different on the basis of the legal framework, market conditions and the state of development of capital markets in each country. The event was co-hosted by Institute of Company Secretaries of India (ICSI) in partnership with the government of Japan.

Bhave wanted the corporates to look at the auditing process for early warning signals on the corporate governance front.

Briefing the media on the conference proceedings, Grant Kirkpatrick, Head, Corporate Affairs Division, OECD, said the meeting focused on the abuse of related party transactions among other corporate governance issues.
Bhave wanted the corporates to look at the auditing process for early warning signals on the corporate governance front.

Briefing the media on the conference proceedings, Grant Kirkpatrick, Head, Corporate Affairs Division, OECD, said the meeting focused on the abuse of related party transactions among other corporate governance issues.

(BS  / New Delhi October 27, 2010)

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