Seminar on Regulating Public Listed Companies in
Description: Seminar on Regulating Public Listed Companies in India: Issues Challenges SLCU DECENNIAL CELEBRATIONS- 2017 Date: 11th September Time: 12:00 PM CORPORATE LAW COMMITTEE PRESENTS Securities and Exchange Board of India performs a pivotal
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slide1. Seminar on
Regulating Public Listed Companies in India: Issues & Challenges SLCU DECENNIAL CELEBRATIONS’- 2017 Date: 11th September
Time: 12:00 PM CORPORATE LAW COMMITTEE
PRESENTS<br>
slide2. Securities and Exchange Board of India performs a pivotal role as the regulator and protector of India’s market economy. Serving as the backbone for all corporate related affairs in India, SEBI is known for protecting the interests of the investors. From the Satyam fiasco to the Sahara’s fraud, SEBI has been instrumental in taking quick and effective steps in light of the global meltdown. Despite SEBI’s efficacious regulatory measures, still there are certain Challenges and Issues in the Regulation of Public Listed Companies.<br>
slide3. The Corporate Law Committee, School of Law, Christ University; for its Decennial Celebration is organizing a Seminar wherein the interested Advocates/ CA/ CS/ Students and other interested participants will have the privilege of interacting with stalwarts in the field of security markets.
Date of the Seminar: 11th September, 2017
Time: 12 PM- 4:30 PM
Venue: Room No. 911, Central Block, Christ University, Bangalore.
Theme for Discussion: Regulating Public Listed Companies in India: Issues & Challenges
The Sub Themes are:
(12– 12:45 PM) INDEPENDENT DIRECTORS AND CORPORATE GOVERNANCE: Independent Directors are required to be independent from the management of the company, analyze their performance and mediate any conflict that may arise between the shareholders and management. However, several controversies from the past starting from the Satyam scam in 2009, till the Tata- Mistry dispute in 2016, plant a seed of doubt as to whether the law can really infuse this characteristic of independence. The question that arises is whether companies should merely be following a check box approach to ensure compliance with the Independent Directors rather than abiding by the every spirit of the regulations.
(1: 30 – 2: 15 PM) INSIDER TRADING: Insider trading, the usage of privileged price sensitive information for trading in shares and securities to the detriment of general public, is a financial crime that has rapidly increased with the growth of financial market in India especially after its market capitalisation crossed USD 1.6 trillion. This caused for a revamp in the 23 year old legislation and the (Prohibition of Insider Trading) Regulations, 2015 was introduced by the SEBI. Upon this premise, it is important to discuss the challenges that obstruct its implementation and the possible drawbacks of this policy.
(2: 30 – 3: 15 PM) TAKEOVER REGULATION CHALLENGES: The much debated new Takeover Code has been released by SEBI to replace the more than a decade-old Code Regulation. Some of the main features of the Code are initial threshold limit for triggering an open offer being increased from 15% to 25, requirement of the Person Acting in Concert to purchase a minimum of 26% (from 20% earlier) of additional stake in the target company, the creeping acquisition window of 5% for any acquirer holding more than 25%, introduction of the concept of voluntary offer, among others. Whether the Code has adequately addressed the challenges or lacuna in the Code with respect to public shareholding is the issue of debate.
(3: 30 – 4: 15 PM) REGULATION OF INTERMEDIARIES: Market intermediaries play a very vital role in development of the market by bridging a gap between the companies and the investors. Typically, they are classified as merchant bankers, stock brokers, bankers to issues, debenture trustees, portfolio managers, registrars to issues, share transfer agents, function in inter alia in the primary markets. Regulation of intermediaries are carried out directly by SEBI or by stock exchanges, depositories, etc. for prevention of unfair trade practices and insider trading. What needs to be looked into are if there are any possible lacunae in the existing laws that need to be filled for better investor protection with respect to unfair trade practices.<br>
Regulating Public Listed Companies in India: Issues & Challenges SLCU DECENNIAL CELEBRATIONS’- 2017 Date: 11th September
Time: 12:00 PM CORPORATE LAW COMMITTEE
PRESENTS<br>
slide2. Securities and Exchange Board of India performs a pivotal role as the regulator and protector of India’s market economy. Serving as the backbone for all corporate related affairs in India, SEBI is known for protecting the interests of the investors. From the Satyam fiasco to the Sahara’s fraud, SEBI has been instrumental in taking quick and effective steps in light of the global meltdown. Despite SEBI’s efficacious regulatory measures, still there are certain Challenges and Issues in the Regulation of Public Listed Companies.<br>
slide3. The Corporate Law Committee, School of Law, Christ University; for its Decennial Celebration is organizing a Seminar wherein the interested Advocates/ CA/ CS/ Students and other interested participants will have the privilege of interacting with stalwarts in the field of security markets.
Date of the Seminar: 11th September, 2017
Time: 12 PM- 4:30 PM
Venue: Room No. 911, Central Block, Christ University, Bangalore.
Theme for Discussion: Regulating Public Listed Companies in India: Issues & Challenges
The Sub Themes are:
(12– 12:45 PM) INDEPENDENT DIRECTORS AND CORPORATE GOVERNANCE: Independent Directors are required to be independent from the management of the company, analyze their performance and mediate any conflict that may arise between the shareholders and management. However, several controversies from the past starting from the Satyam scam in 2009, till the Tata- Mistry dispute in 2016, plant a seed of doubt as to whether the law can really infuse this characteristic of independence. The question that arises is whether companies should merely be following a check box approach to ensure compliance with the Independent Directors rather than abiding by the every spirit of the regulations.
(1: 30 – 2: 15 PM) INSIDER TRADING: Insider trading, the usage of privileged price sensitive information for trading in shares and securities to the detriment of general public, is a financial crime that has rapidly increased with the growth of financial market in India especially after its market capitalisation crossed USD 1.6 trillion. This caused for a revamp in the 23 year old legislation and the (Prohibition of Insider Trading) Regulations, 2015 was introduced by the SEBI. Upon this premise, it is important to discuss the challenges that obstruct its implementation and the possible drawbacks of this policy.
(2: 30 – 3: 15 PM) TAKEOVER REGULATION CHALLENGES: The much debated new Takeover Code has been released by SEBI to replace the more than a decade-old Code Regulation. Some of the main features of the Code are initial threshold limit for triggering an open offer being increased from 15% to 25, requirement of the Person Acting in Concert to purchase a minimum of 26% (from 20% earlier) of additional stake in the target company, the creeping acquisition window of 5% for any acquirer holding more than 25%, introduction of the concept of voluntary offer, among others. Whether the Code has adequately addressed the challenges or lacuna in the Code with respect to public shareholding is the issue of debate.
(3: 30 – 4: 15 PM) REGULATION OF INTERMEDIARIES: Market intermediaries play a very vital role in development of the market by bridging a gap between the companies and the investors. Typically, they are classified as merchant bankers, stock brokers, bankers to issues, debenture trustees, portfolio managers, registrars to issues, share transfer agents, function in inter alia in the primary markets. Regulation of intermediaries are carried out directly by SEBI or by stock exchanges, depositories, etc. for prevention of unfair trade practices and insider trading. What needs to be looked into are if there are any possible lacunae in the existing laws that need to be filled for better investor protection with respect to unfair trade practices.<br>