Firms must disclose pledged share: SEBI
Updated on Jan 22, 2009 11:11 pm IST
After the detection of massive fraud in Satyam Computer Services, the Securities and Exchange Board of India will make it mandatory for promoters and other founder-directors of companies to disclose their pledged shares. This was disclosed by Chairman of SEBI on Wednesday at Mumbai. Meanwhile, Chief Minister of Maharashtra has asked Maharashtra State Electricity Board to scrap a contract awarded to Maytas.
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