Role of Sebi as Director of Corporate Governance in India

Abstract

Corporate governance is the system of rules, practices and processes by which a firm is directed and controlled. Corporate governance essentially involves balancing the interests of a companies many stakeholders. Presently illegal practices have become curse for corporate sector and for which it is responsible all over the world. These practices harm the investors interest and are not good for the civilized society. There is legal framework and revised norms for the corporate entities to curb illegal practices and for its survival and success. In this paper an effort has been made to discuss the role played by SEBI in corporate governance through clause 35B and 49. This article is divided into legal framework, elements of corporate governance, new norms. SEBI is giving framework for the listing agreement through its norms and it is instrumental in making corporate to comply with the standards of corporate governance and also indicates the intent of the regulators to align with the global standards.