Taking a dig at those calling Sebi by names ranging from ‘activist’ to ‘dragon’, the regulatory authority’s Chairman UK Sinha on Thursday said that corporates should actually fear activism and powers of their investors.
Addressing an industry event here on Thursday, Sinha said that the public activism has for long showing its impact on politics and a similar trend was now being seen in corporate world also, as shareholders have powers to vote on company proposals and these powers are being exercised.
“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”, Sinha said at the 178th Annual General Meeting of Madras Chamber of Commerce.
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, whyIJ”, he said, while adding that times have changed and people (shareholders) who have been remaining quiet in the past are wanting to be heard.