The president of Sebi, Tuhin Kanta Pandey, addresses the 18th CII Corporate Governance Summit in Mumbai on Thursday | Photo credit: PTI
The Bag Board and Exchange of India (Sebi) will not allow the general public interest to be committed to the commercial interest of market infrastructure institutes, President Tuhin Kanta Pandey said Thursday in the context of the offer of national actions.
In statements to the media outside the CII Corporate Governance Summit, Pandey said: “We will not allow the commercial interest to take over the general public interest, and the regulator ensures that.”
“Now, if you have something that is happening between NSE and BSE, the regulator will intervene and then bring an order,” Pandey added.
He explained that India has adopted a commercial or profit model for market institutions that can be temper and should be regulated. Every time the model conflicts with the public interest or becomes monopoly, the regulator will enter, he said.
Liquidation of the IPO
Regarding the authorization of the OPI plans of NSE by Sebi, Pandey said that the problems are being discussed through an internal committee and resolved with NSE “as soon as possible.”
Some of these issues include the diversification of the compensation corporations of the exchanges of values, the salaries of the key management of NSses, the pending litigation and the technological conerns.
The Stock Exchange has recently sought the regulator non -objection certificate again to process with IPO, and the plans are in limbo for eight years.
Regulatory responsibility
In the recent interim order against Gensol Engineering, Pandey said it is the regulator’s work to ensure that there are no bad practices in the system.
He also underlined the importance of corporate governance in a discourse above, pointing out the need for colleagues to be self -regulated when it comes to government issues and move to “the maximum government of minimum compliance.”
“Governance is not about marking boxes. It is about building institutions in which you can trust for years and decades. It is not an easy path, since it implies sacrificing some short -term profits. But it is the only way to have growth.
Sebi will continue waiting for a higher bar in the government, he said, but “a true and durable change must come from the rooms of corporate joints and cultures.” The boards driven to rise above the routine and ask difficult questions; Auditors and independent directors must act as integrity guardians.
Posted on April 17, 2025
