On Satyam scam, Bhave said the regulator is reviewing the progress of the investigations and it is also investigating the details of Satyam's bank deposits
Tightening the norms after the Satyam scam, the market regulator, Sebi, said it would be mandatory for promoters of listed companies to disclose pledging of shares. This would be mandatory with effect from December 31.
Making the announcement, Sebi chief CB Bhave said the disclosures would be event based as well as periodical. He added that unlisted companies would not need to share their share the pledge details.
The market regulator would make necessary changes to the listing agreement to make the new norms mandatory.
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Bhave added that Sebi has already questioned the auditors and the finance department of Satyam but it has not been able to question Satyam founder B. Ramalinga Raju yet.
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