We are probing Satyam issue, says Bhave
“We are still in the midst of things that are continuing to unfold,” CB Bhave, Chairman of Sebi said at the conference on securities market convened by NISM (National Institute of Securities Markets).business Updated: Dec 19, 2008 21:07 IST
“We are still in the midst of things that are continuing to unfold,” CB Bhave, Chairman of Securities and Exchange Board of India (Sebi) said at the conference on securities market convened by NISM (National Institute of Securities Markets).
Broaching the issue of corporate governance in Satyam Computers, an issue that cropped up following the Maytas takeover fiasco, Bhave said: “We don’t want to react quickly, but we will study issues involved and then take a decision.”
There is a need to look at this issue in a deliberative fashion, Bhave added. Shares of Satyam Computers fell by about 3.8 per cent on Friday to close at Rs 162.8, while Maytas Infra, one of the companies that Satyam was acquiring, lost 19.9 per cent or Rs 62 to close at Rs 248.5 on Friday.
Currency futures curbs may be eased
“We are deliberating on easing restrictions in currency futures trading, Bhave said.
“Today, the currency futures trade is dominated by rupee-dollar. There are a lot of restrictions in terms of who can participate and the extent to which they can participate. We are looking at easing these restrictions,” Bhave said.
About introducing more currency futures, he said that a joint RBI-Sebi committee is studying the issue.