This Article is From Apr 12, 2009

SEBI board meet to take stock of Satyam fiasco

Mumbai: Capital market regulator Securities and Exchange Board of India (SEBI) will hold its Board meeting on Wednesday, an official said.

It is, however, understood that the Board meet, the first after the Satyam scam, would discuss the issue in detail.

The market regulator is understood to be mulling measures to prevent the recurrence of such scams in the future.

Among the measures likely to be taken up at Wednesday's meeting is peer review of audit of large companies and disclosure of shares pledged by the promoters to raise finance.

SEBI's primary market advisory committee is believed to have made a specific recommendation that disclosure of such pledged shares should be made public within twenty-four hours.
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