DIPAM oversees stake sale of state-run companies.It had proposed that all listed PSUs must ensure that their public holding is minimum 25% by August 21, 2017. But a number of such firms are not likely to be able to meet the deadline.The government is now contemplating extending the deadline to allow time to these PSUs, some officials said. The proposal to bring listed PSUs on par with private sector entities was announced in 2014. The final government decision will have implications on its divestment plan.Tyagi said Sebi is “not happy” with the current state of affairs at credit rating agencies and will soon float a discussion paper for a new set of norms for them.“We are bringing out a discussion paper within a month,” he said in response to a question on how would Sebi deal with the situation if the rating agencies fail to adhere to the new set of stricter norms.Tyagi said the market regulator would look at the views from all stakeholders before taking a final call. Credit rating agencies have been facing a lot of flak lately, especially with regard to limited warning from their side about defaults by companies on bonds.

Source: Economic Times July 03, 2017 12:59 UTC