Good corporate governance key to protect shareholder interest - SEBI Pandey
This story was originally published at 13:45 IST on 17 April 2025
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--Bajaj Finserv CMD: Good corporate governance crucial going forward
--CONTEXT: Bajaj Finserv CMD Sanjiv Bajaj speaking at a CII event
--Bajaj Finserv CMD: Corporate governance must be abreast with regulations
--Bajaj Finserv CMD: Must understand risks associated with AI
--SEBI Pandey: Good corporate governance vital for shareholders' interests
--CONTEXT: SEBI Chairman Pandey speaking at CII Corporate Governance Summit
--SEBI Pandey: Corporate governance has evolved in past two decades
--SEBI Pandey:Delayed disclosure instances cause information asymmetry in mkt
--SEBI Pandey: Aware that overregulation can stifle growth, innovation
--SEBI Pandey: Need balance between regulation and ease of doing business
MUMBAI - Good corporate governance is crucial to protect the interest of shareholders, Securities and Exchange Board of India Chairman Tuhin Kanta Pandey said at the 18th Corporate Governance Summit organised by the Confederation of Indian Industry on Thursday. He added that he expects a higher bar from corporates in terms of governance.
Corporates must ensure that disclosures are timely, Pandey said, adding that any major event at any corporate, if not disclosed on time, could have negative ripples across the market economy. Instances of delayed disclosures, he said, led to "information asymmetry in the market".
SEBI is working on making regulations more comprehensive, he said. "We are aware that overregulation can stifle growth and innovation, but too little regulation can lead to decline of trust of stakeholders and adversely affect growth."
Pandey also urged corporates to use technology to comply with regulations, as this would help in improving compliance and reporting, streamlining processes, and improving operational efficiency. "SEBI and first-line regulators, which is exchanges, are deploying suit-tech solutions for effective and enhanced supervision. The use of technology by regulators has been very helpful in detecting early signs of market abuse and non-compliances," he said.
Harnessing technological advancements could further reduce potential blind spots and market misconduct, and instill a culture of continuous compliance among regulated entities, he said.
"Governance is not about ticking boxes. It is about building institutions that can be trusted for years and decades," he said.
Speaking at the same event, Bajaj Finserv Chairman and Managing Director Sanjiv Bajaj said regulations around corporate governance must be abreast with the changing times. However, he cautioned that as corporates were increasingly using artificial intelligence, they must have sufficient systems in place to mitigate the risks emanating from it. End
Reported by Kshipra Petkar
Edited by Avishek Dutta
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