Corporate governance reforms will ensure transparency in boardroom: Sebi CGM
The core idea behind corporate governance reforms in India is the promotion of long term sustainability of business enterprises, a top Sebi official said today.
Accountancy, independence, transparency and honesty are the prime drivers of the corporate governance regime in the country, said V S Sundaresan, chief general manager of Sebi.
He was speaking at a conference titled ‘Corporate Governance: New dimensions of Board Practices and Responsibilities’, organised jointly by Indian Chamber of Commerce and NFCG here.
He reaffirmed that application is more important than principles for the successful implementation of the corporate governance rules.
Sundaresan insisted on the disclosure of sensitive information by corporates on issues such as security for loans and applicable interest rates for financing as they have a direct effect on product pricing.
R C Meena, Regional Director, Ministry of Corporate Affairs, said the main objective of the corporate governance reforms in India has always been minimum government and maximum governance.