To strengthen the corporate governance for listed companies, the government has sought for more changes in the Companies Act and in the markets regulator Securities and Exchange Board of India (SEBI), said Minister of State for Finance Jayant Sinha.
“There are more changes that might be required in the Companies Act…there are more changes that may be required how SEBI deals with listed entities to strengthen corporate governance,” Minister of State for Finance Jayant Sinha said at an event here on corporate governance organised by the Federation of Indian Chambers of Commerce and Industry (Ficci).
“We are seeing major changes on corporate governance…major changes in the nature of capitalism. This is well established within the framework we are following being a pro-poor as well as pro-market government,” he added.
The minister also said the whole process and manner of corporate governance is very important for building businesses.
“So governance is going to be very important for us. If we are not able to sustain and follow the best standard of corporate governance it will be very difficult for our corporates to attract investment and talent to build businesses,” he said.