Sebi tightens disclosure norms for promoters
Market regulator SEBI on Wednesday asked promoters of listed companies to disclose if they have pledged shares with lenders, while saying it has had no luck in determining the real size of the Satyam Computer fraud. The regulator's announcement on disclosure of pledged shares comes in the wake of the Satyam scam, wherein promoter Ramalinga Raju had pledged nearly all his shares - whose prices he had inflated by falsifying profits.
