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Sebi woos India Inc, calls meet of corporate who`s who : The Financial Express
Sebi woos India Inc, calls meet of corporate who`s who
The Securities and Exchange Board of India (Sebi), in a landmark step, has begun reaching out to India Inc for support in a bid to collaborate towards growth and regulation of the capital market. In a first ever meeting of its kind, Sebi chairman GN Bajpai has invited 20 top industrialists from across the country to attend a crucial meeting with the regulator on March 21 in Mumbai. There will be a wide range of discussions on effective capital market regulation and development.
Alongside, the Sebi top brass is also contemplating constitution of a standing advisory board, comprising a wide cross-section of experts drawn from industry, capital markets, lawyers and chartered accountants and others. The board will advise Sebi on a wide range of issues and may even have sub-committees to address various facets of Sebi regulations.
Top Sebi officials did not offer any comment on these initiatives. Among the who’s who on Mr Bajpai’s guest list for the mega meeting (slated for 1530 hrs at Sebi’s Mumbai headquarters) are Wipro boss Azim Premji, Infosys chairman NR Narayana Murthy, Ratan Tata, Kumar Mangalam Birla, Reliance’s Anil Ambani, ITC chairman Yogi Deveshwar, BSES’s RV Shahi, Narotam Sekhsaria of the Ambuja group, Dr Anji Reddy, AM Naik of Larsen & Toubro, DS Brar of Ranbaxy, MS “Vindi” Banga of Hindustan Lever Ltd, Anand Mahindra, Ramalinga Raju and others.
This makes the meeting one of the most high-powered gatherings of corporate chiefs in recent times. Mr Bajpai is aiming at garnering widespread support for “growth, development and regulation of the capital markets”. Some of these industrialists may also be co-opted into the advisory board. A top industrialist, who figures on the guest list says, “It’s a never-before event. Sebi and industry will sit together and discuss all the issues relating to the growth of the market and how the corporate sector can participate in that.”
According to a preliminary thinking, the proposed board, which will function on the lines of the advisory panel which works closely with the Prime Minister, will have members drawn from Federation of Indian Chambers of Commerce and Industry, Confederation of Indian Industry and Associated Chambers of Commerce and Industry, representatives from Unit Trust of India, financial institutions and stock exchange officials.
Top Sebi officials did not offer any comment on these initiatives. Among the who’s who on Mr Bajpai’s guest list for the mega meeting (slated for 1530 hrs at Sebi’s Mumbai headquarters) are Wipro boss Azim Premji, Infosys chairman NR Narayana Murthy, Ratan Tata, Kumar Mangalam Birla, Reliance’s Anil Ambani, ITC chairman Yogi Deveshwar, BSES’s RV Shahi, Narotam Sekhsaria of the Ambuja group, Dr Anji Reddy, AM Naik of Larsen & Toubro, DS Brar of Ranbaxy, MS “Vindi” Banga of Hindustan Lever Ltd, Anand Mahindra, Ramalinga Raju and others.
This makes the meeting one of the most high-powered gatherings of corporate chiefs in recent times. Mr Bajpai is aiming at garnering widespread support for “growth, development and regulation of the capital markets”. Some of these industrialists may also be co-opted into the advisory board. A top industrialist, who figures on the guest list says, “It’s a never-before event. Sebi and industry will sit together and discuss all the issues relating to the growth of the market and how the corporate sector can participate in that.”
According to a preliminary thinking, the proposed board, which will function on the lines of the advisory panel which works closely with the Prime Minister, will have members drawn from Federation of Indian Chambers of Commerce and Industry, Confederation of Indian Industry and Associated Chambers of Commerce and Industry, representatives from Unit Trust of India, financial institutions and stock exchange officials.