Market regulator SEBI has not found any ‘large-scale’ discrepancies in the mandatory financial and other corporate disclosures made by listed companies to the bourses, Parliament was informed on Friday.
In a written reply to Lok Sabha, MoS Finance Namo Narain Meena said, “SEBI has reported that they have not found any large-scale discrepancies in the mandatory financial and other corporate disclosures made by listed companies to the stock exchanges.”
The Securities and Exchange Board of India (SEBI), last month, had put in place mechanism to address possible violations of regulations for disclosing key details such as financial results and shareholding data among others.
According to norms, delay in compliance would lead to measures such as imposition of fines, transferring of transferring of shares to the restricted trade category, freezing of shares of the promoter and promoter group and suspension of trading in the company’s shares.
