The government on Wednesday said that the Securities and Exchange Board of India( SEBI ) guidelines which require listed companies to meet corporate governance norms for best practices in management may now be extended to unlisted companies as well.
"We are harmonising... The appropriate best practices that are seen in Clause 49 (of Sebi’s listing agreement) will have to be brought in the new companies bill,” corporate affairs minister Salman Khursheed said. Best practice standards have to be imposed on everyone appropriately, Khursheed told reporters on the sidelines of an Assocham event. “But the compliance cost has to be kept in mind, looking at different levels and sizes of the companies,” he said.
source -www.telegraphindia.com
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