Bull by the Horns

Under a new chairman, the Securities and Exchange Board of India (SEBI) has quickly initiated action on an issue that was debated years ago by SEBI-appointed committees and also approved but never implemented. These are changes to Clause 49 of the Listing Agreement of stock exchanges that have now been notified by SEBI on 8 April 2008. The need for amendment is self-evident. For instance, when...

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