Kotak Committee report on corporate governance expected in September: Sebi

Kolkata, July 15 (IANS) The Securities and Exchange Board of India on Saturday said corporate governance is high on its agenda and the Uday Kotak committee is expected to submit its report by September.

The market regulator had, in June, set up a committee under the chairmanship of Kotak Mahindra Bank's Executive Vice Chairman and Managing Director uday Kotak to advise it on issues relating to corporate governance.

"The committee is expected to give its report by September and then, we will go for public consultation. After that, it will be placed before the board," Sebi's Executive Director Ananta Barua said here on the sidelines of a programme organised by Calcutta Chamber of Commerce.

"It (corporate governance) is high on our agenda," he said.

According to the market regulator, the committee will make recommendations on the issues such as ensuring the active participation of independent directors in the functioning of companies, improving safeguards and disclosures pertaining to related-party transactions, issues in accounting and auditing practices by listed firms.

It is also expected to advise on issues like improving effectiveness of board evaluation practices, addressing issues faced by investors on voting and participation in general meetings; and disclosure- and transparency-related issues.