Enforcement key for tougher corporate governance laws
Despite concessions, the fear remains that firms will comply with regulations in letter but not in spirit
Mumbai: A little over a month back, the Securities and Exchange Board of India (Sebi) barred India’s largest real estate firm DLF Ltd from accessing the capital market for three years. A regulatory probe had found the company and its top officials guilty of violations which included the nondisclosure of related party transactions, nondisclosure of financial details related to subsidiaries and inadequate disclosure of outstanding litigation. The company has challenged the order at the Securities Appellate Tribunal (SAT).