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Sebi 'disappointed' with co secretaries for non-disclosures

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Press Trust of India Mumbai
Last Updated : May 18 2018 | 7:10 PM IST

Capital markets regulator Sebi today said it is "disappointed" with company secretaries for lack of disclosures regarding actions taken by stock exchanges in secretarial audits of companies.

"I was rather disappointed to see that many of the secretarial audit reports did not report on the non-compliances pointed out by the stock exchanges," Sebi chairman Ajay Tyagi said addressing an Institute of Company Secretaries of India event here.

Pointing out to an analysis of secretarial audit reports undertaken by the National Stock Exchange recently, he said the shortcomings included not reporting penalties levied by stock exchanges and overlooking compliance and corporate action events like changes in capital schemes.

Reminding that the company secretaries have been entrusted with the responsibility of secretarial audit in practice, Tyagi said, "I would urge to further step up the quality of the secretarial audit especially for listed companies."

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First Published: May 18 2018 | 7:10 PM IST

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