SEBI has on April 8, 2008 issued a press release and circular amending certain provisions of Clause 49 relating to corporate governance, and can be viewed here: The composition of board of directors has been required to be as under:(a) where chairman is an executive chairman, atleast half the board has to comprise of independent directors(b) where the chairman is a non-executive chairman, then...
Draft Report of the High Level Committee on Financial Sector Reforms
The Draft CFSR report is up on the Planning Commission website for public view and can be accessed from the following link:
A commentary which appeared in Business Standard is available at:
Derivatives – a constructive critique
In what i thought could come in as an observation to an earlier post by Kartik – see below – turned out slightly differently. so here goes: In considering law governing derivatives in India, couple or more items are noteworthy: Firstly, a very significant development in the Indian legal regime governing derivatives was the amendment in 2006 to the RBI Act, 1934. It introduced a new...
The Case for an Indian SWF
BackgroundSovereign wealth fund (SWF) is a fund owned by a state composed of financial assets such as stocks, bonds, property or other financial instruments. Sovereign wealth funds are, broadly defined, entities that can manage the national savings for the purposes of investment. The accumulated funds may have their origin in, or may represent foreign currency deposits, gold, SDRs and IMF reserve...
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