 "Ajay Tyagi, Sebi")
Market participants, including mutual fund houses, on Monday sought simpler takeover regulations and necessary safeguards to protect them from increased cost burden after implementation of goods and services tax (GST).
During their meeting with new Securities and Exchange Board of India (Sebi) Chairman Ajay Tyagi, they also discussed issues pertaining to e-KYC (Know Your Client) and corporate debt restructuring.
Sources said market participants had a good discussion with Tyagi, who took over the reins of the Sebi earlier this month, and a broad range of issues were touched upon during the meeting.
Mutual fund houses have flagged certain concerns about existing takeover regulations that are implemented by Sebi and sought a simpler regime in this regard, sources said.
Further, market participants raised their concerns about the possibility of increased cost burden once GST is implemented.
Sources said once GST is implemented, certain market participants, especially mutual funds, might see higher compliance costs, as well as there could be changed in the overall registration system.
Among others, mutual fund houses have suggested putting in place single return compliance or centralised registration mechanism, sources added.
The GST regime is expected to be effective from July 1.
