New Delhi: Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch has said that disclosures or information made by a listed company on one stock exchange will be automatically ‘uploaded’ on another exchange.
The move comes after SEBI recently proposed sweeping changes in the disclosures made by listed companies as well as listing requirements. The proposal is based on the recommendations of a committee headed by former SEBI whole-time member S. K. Mohanty. Speaking at a CII event on Monday, SEBI chief Buch said a single ‘filing’ on the exchange will become a reality very soon.
He said that under the proposed changes, the information (filing) given to one exchange will be automatically shared on the other exchange. Apart from this, Buch said that investors will soon be able to start investing in SIP from Rs 250 per month. Aditya Birla Sun Line Mutual Fund is preparing to launch the first such SIP in the country. So far SIPs with a minimum of Rs 500 per month are available. Buch refused to comment on Real Estate Investment Trust (REIT) and said that rules for simplification of such units are in place.
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She said, ‘If I say even one word on REIT, I will be accused of conflict of interest.’ Buch has said this at a time when US short selling company Hindenburg Research has raised questions about possible conflict of interest related to her and private equity firm Blackstone in a report. Hindenburg has claimed in the report that Buch and her husband Dhawal Buch had made undeclared investments in obscure foreign funds in Bermuda and Mauritius. These are the same funds that Vinod Adani allegedly used to embezzle money and increase the share prices of the group’s companies. Vinod Adani is the elder brother of Adani Group chairman Gautam Adani.
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