U K Sinha slams corporates for dubbing Sebi ‘activist’, ‘dragon’
25 July 2014 6:17 AM IST
Taking a dig at those calling Sebi by names ranging from 'activist' to 'dragon', the regulatory authority's Chairman U K Sinha on Thursday said that corporates should actually fear activism and powers of their investors.
Addressing an industry event here on Thursday, Sinha said, ‘We were told that we (companies) are dealing with multiple regulators, multiple agencies and multiple bosses. That is a very generic complaint. It is a very fair point.... We (Sebi) have been blamed in the past to be an activist. In fact, they have blamed that Sebi has become a dragon’, he said at the Madras Chamber of Commerce AGM.
Recently, a senior industry leader said Sebi was becoming like a dragon for the corporate world, while similar comments have been made in the past also including those accusing Sebi of acting like an activist.
‘I would like to explain that whether we have acted like an dragon and if so, why?’, he said, while adding that times have changed and people (shareholders) who have been remaining quiet in the past are wanting to be heard. ‘Let us look at the world outside the corporate world for a short while. On matters of public concern, huge protests are being held. Normally, there have been students and unemployed youth doing such protests.
‘What are we seeing today? We are seeing today young professionals, male and female, people who have their own job and feeling bad about some particular subject come out in millions across
continents,’ the Sebi chairman pointed out.
Addressing an industry event here on Thursday, Sinha said, ‘We were told that we (companies) are dealing with multiple regulators, multiple agencies and multiple bosses. That is a very generic complaint. It is a very fair point.... We (Sebi) have been blamed in the past to be an activist. In fact, they have blamed that Sebi has become a dragon’, he said at the Madras Chamber of Commerce AGM.
Recently, a senior industry leader said Sebi was becoming like a dragon for the corporate world, while similar comments have been made in the past also including those accusing Sebi of acting like an activist.
‘I would like to explain that whether we have acted like an dragon and if so, why?’, he said, while adding that times have changed and people (shareholders) who have been remaining quiet in the past are wanting to be heard. ‘Let us look at the world outside the corporate world for a short while. On matters of public concern, huge protests are being held. Normally, there have been students and unemployed youth doing such protests.
‘What are we seeing today? We are seeing today young professionals, male and female, people who have their own job and feeling bad about some particular subject come out in millions across
continents,’ the Sebi chairman pointed out.
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