The period disclosure will be made every quarter. The regulator is working on the other aspects of this regulation which will be made public soon.
Bhave said, The promoters will convey the details of pledges of shares to the company and the company shall in turn inform the same to the public through stock exchanges. The pledging of the shares in the event base will have limit. Necessary steps to amend the relevant regulations and the listing agreement are being taken.
Bhave said two to three investigating agencies Andhra Pradesh government, MCA and Sebi are probing the Satyam case. There is a rule of law and we are taking necessary permission from judiciary to proceed in the case, he added.
With regard to the role of independent directors, he said the board is reviewing their roles in the company board. We have written a letter to the Union government to appoint independent directors on the PSU board, he said.
Sebi is getting account details of the Satyam from various banks. We are taking information from two or three places, including from Integrated Market Surveillance, he said. Although he refused to comment on the progress of the investigation progressing. No formal investigation has been ordered into Maytas Infrastructure, he said, adding Sebi had not yet received any request from the newly formed Satyam board for more time to publish the December quarter results.
In Pyramid Saimra case, Sebi said it has already filed a criminal complaint for the forged letter of the regulator. We are in touc h with the police, he said.