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To ensure stricter regulatory compliance, Sebi will soon come out with a very detailed set of guidelines on disclosures to be made by listed companies.
Sebi Chairman U K Sinha today said the discussions are almost complete with stock exchanges with regard to disclosures by companies.
"We are going to ensure that timely disclosures are made and quality disclosures are improving," Sinha said at a conference organised by industry body PHD Chamber.
He also cautioned that if disclosures from companies do not improve despite the guidelines, "resultant actions will follow" including possible penalties.
"Consultations (with stock exchanges) are almost over and very soon we are going to announce that (guidelines)," he added.
Securities and Exchange Board of India (Sebi) has been taking many steps in recent times aimed at protecting the interest of investors.
"Sebi Act gives enough right and powers to act... If there is something in violation of the rules, penalties are possible," Sinha said.
The capital market regulator would be mainly looking at aspects of non-disclosures by entities as well as the quality of disclosures by them.
