SEBI to issue corporate governance norms

MUMBAI, FEB. 19. The Securities and Exchange Board of India is scheduled to issue on Monday corporate governance guidelines which would be mandatory conditions for listing, the SEBI Chairman, Mr. D. R. Mehta, today said.

``The main focus of future reforms would be on the unfinished agenda, including thrust to venture funds and laying broad framework for corporate governance, Mr. Mehta told PTI here following his re-appointment for a further two year term as SEBI chief. Mr. Mehta's re-appointment comes into force from February 21.

As part of corporate governance initiatives, accounting policy in India needed to be upgraded to international levels to increase transparency and accountability of corporates, he said.Particularly, provisions relating to inter-party transactions within a group and deferred payment liability would be defined clearely, he said, adding SEBI had already held discussion on these issues with the Institute of Chartered Accountants of India. ``The focus would also be on initiatives such as expansion of Internet-based trading, broadbasing the list of scrips under rolling settlement, introduction of derivatives and giving further boost to debt market during the next two years,'' he added.

- PTI

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