Sebi would not like to get into turf war over directing examiners: Ajay Tyagi

Controller inside its privileges to make a move against review firms, says Sebi Chairman

Ajay Tyagi, executive of the Securities and Exchange Board of India (Sebi), on Wednesday said that the market controller would not like to get into a “turf war” over directing reviewers. He said that Sebi couldn’t enable substances to review recorded organizations on the off chance that they didn’t play out their obligations appropriately.

Naming review firms as significant guardians, the Sebi boss said that they should be considered responsible if slips are found in evaluating recorded firms. “Our position is extremely basic on the off chance that they are examining recorded organizations, in view of which financial specialists base their choices. In the event that we find that the work has not been done appropriately, at that point to financial specialists’ greatest advantage, the review firms ought not be permitted to review recorded organizations for quite a while. We are well inside our parliamentary command to see that they don’t do it and in the event that they wish to challenge that, we will challenge it as well,” Tyagi said while tending to a gathering of the Association of Investment Bankers of India (AIBI).

The remark accept importance as the Securities Appellate Tribunal (SAT) had as of late seen that Sebi had no capacity to suspend evaluators from reviewing the books of a recorded organization. The perceptions were made during the knowing about an intrigue documented by PwC in the Saytam bookkeeping outrage. Sebi has tested the SAT request