Sebi's rules for confidential consent settlement gathering opposing views

The rules must not compromise on corporate governance norms, say experts

The report by a committee, appointed by the Securities and Exchange Board of India (Sebi), on overhauling the ‘consent mechanism’ has triggered a debate among  market participants and legal experts. The committee, headed by former Supreme Court Judge Anil Dave, which submitted its report earlier this month, has made recommendations, such as limiting the time for filing a consent application and a cap on the number of times the application can be filed, to broaden the applicability of the consent framework.

However, some of the proposals, such as consent by confidentiality and settlement with a lesser punishment, are gathering opposing