Sebi’s new framework for listing norms is more stringent than those laid out in Companies Act. Photo: Aniruddha Chowdhury/MintMumbai: The Securities and Exchange Board of India (Sebi) on Wednesday strengthened norms to enable stock exchanges to punish companies with heavier penalties if they are found non-compliant with listing and governance norms. According to experts this is to stem the criticism that while Sebi had rules, its track record in passing orders in case of non-compliance with listing norms was poor. This is also a departure from the earlier Sebi penalty structures which were more relaxed, compared with the norms laid out in Companies Act 2013. “The stock exchanges monitor compliance with the listing norms.

Source: Mint March 29, 2018 22:18 UTC