In its proposed changes to the listing regulations, SEBI is trying to plug for side deals and structures that entrench a set of shareholders. This will further empower shareholders and limit the ability of controlling shareholders to play between the spirit of the regulation and the letter of the law.

SEBI’s February 2023 Consultation Paper on Strengthening Corporate Governance at Listed Entities by Empowering Shareholders attempts to address some of the loopholes that have been exploited by companies in the past.

Click here to read the article.