FICCI Appreciates Proactive Measures by SEBI Amid COVID Crisis

SEBI on May 16, 2020, discussed several issues pertaining to raising of capital and corporate debt market with corporates. The Conference Call was part of the series of meetings that the Securities and Exchange Board of India is having with various stakeholders. In a conference call with the Federation of Indian Chambers of Commerce and Industry (FICCI); SEBI Chairman Ajay Tyagi apprised the industry leaders of various steps already taken by the market regulator and promised to look into the issues raised by them.

Several issues concerning the industry in light of the lockdown due to COVID-19 were discussed in the meeting. This included the raising of capital, corporate debt market and disclosures. The Securities Exchange Board promised to look into the challenges arising due to the COVID-19 crisis. To ensure the orderly functioning of the market, SEBI has put in place adequate risk management measures.

The Securities Exchange Board had earlier interacted with the Confederation of Indian Industry (CII). FICCI appreciated the proactive efforts of the Board in the wake of developments related to COVID-19. Sangita Reddy and Sunil Sanghai were among the representatives of FICCI who attended the conference call; while Tyagi was joined by other senior officials from SEBI.

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