New Delhi, June 19: Government is likely to allow Securities and Exchange Board of India to frame the entire gamut of rules on companies that are listed on the country's stock exchanges. Top finance ministry sources said a recent meeting between Sebi, Department of Company Affairs (dca) and the ministry officials agreed to the proposal that Sebi be allowed to frame regulations on listed companies.The proposed amendment will also take care of framing regulations on companies that propose to get listed on the domestic stock exchanges, sources said.
They said that Section 55 (A) of the Companies Act 1956 will be amended or an enabling provision be added to the section giving powers to Sebi on this regard. The companies will have to register themselves with the registrar of Companies (RoC) as is the practice now but they will also have to submit a copy of the registration with Sebi as well under the proposed changes.
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