Sebi rejigs committee on disclosure, accounting standards

Written by Press Trust of India | New Delhi | Updated: Dec 17 2012, 06:30am hrs
Capital markets regulator Sebi has revamped its expert committee on disclosure and accounting standards, which is mandated to suggest ways for improving disclosure framework for listed companies and accounting practices of various market entities.

The Sebi Committee on Disclosures and Accounting Standards (SCODA) was originally set up in 2006 under the chairmanship of noted chartered accountant YH Malegam to advise the market regulator on disclosure requirements by companies at listing time and thereafter, as also about the accounting standards to be followed by various intermediaries.

The 17-member panel is now chaired by Tata Sons Director-Finance Ishaat Hussain, while members include NSE chief Ravi Narain, HDFC AMC managing director Milind Barve, Bombay Shareholders Associations AK Bakliwal and IT major Wipros CFO and executive director Suresh Senapathy.

The panel also comprises representatives from Sebi and from the finance and corporate affairs ministries, as senior executives of Kotak Mahindra, SBI Capital Markets, Jubilant Life Sciences, M&M and Deloitte Haskins and Sells, as per a new notification from Sebi.