According to existing Sebi norms, a company can be penalized or suspended from trading if it remains non-compliant with the listing regulations for a prolonged period. Sebi plans to attach bank accounts and properties of promoters who repeatedly flout listing and disclosure norms and fail to take corrective stepsSebi’s offices in Mumbai. Photo: Aniruddha Chowdhury/MintMumbai: India’s capital markets regulator is planning to attach bank accounts and properties of promoters who repeatedly flout listing and disclosure norms and fail to take corrective steps. Sebi’s latest proposals come amid widespread violations of listing and disclosure norms. The latest proposed changes will make corporate governance norms for listed firms stricter than those stipulated in the new Companies Act.

Source: Mint May 15, 2016 13:03 UTC