Regulating Public Listed Companies in India: Issues & Challenges Seminar

SLCU DECENNIAL SLCU DECENNIAL CELEBRATIONS CELEBRATIONS - - 2017 2017 CORPORATE LAW COMMITTEE CORPORATE LAW COMMITTEE PRESENTS PRESENTS Seminar on Seminar on Regulating Public Listed Regulating Public Listed Companies in India: Companies in India: Issues & Challenges Issues & Challenges Date: 11 Date: 11th th September September Time: 12:00 PM Time: 12:00 PM

Securities and Exchange Board of Securities and Exchange Board of India performs a pivotal role as the India performs a pivotal role as the regulator and protector of India s regulator and protector of India s market economy. Serving as the market economy. Serving as the backbone for all corporate related backbone for all corporate related affairs in India, SEBI affairs in India, SEBI is known protecting the interests of the protecting the interests of the investors. From the Satyam fiasco investors. From the Satyam fiasco to the to the Sahara s Sahara s fraud, SEBI has fraud, SEBI has been instrumental in taking quick been instrumental in taking quick and effective steps in light of the and effective steps in light of the global meltdown global meltdown. Despite SEBI s . Despite SEBI s efficacious regulatory measures, efficacious regulatory measures, still there are certain Challenges still there are certain Challenges and Issues in the Regulation of and Issues in the Regulation of Public Listed Companies. Public Listed Companies. is known for for

The Corporate Law Committee, School of Law, Christ University; for its Decennial Celebration is organizing a Seminar wherein the interested Advocates/ CA/ CS/ Students and other Advocates/ CA/ CS/ Students and other i interested the privilege of interacting with stalwarts in the field of security markets. Date of the Seminar: 11 11th th September, 2017 September, 2017 Time: 12 PM 12 PM- - 4:30 PM 4:30 PM Venue: Room No. 911, Central Block, Christ University, Bangalore. Room No. 911, Central Block, Christ University, Bangalore. Theme for Discussion Theme for Discussion: Regulating Regulating Public Listed Companies in India: Issues India: Issues & & Challenges Challenges The Sub Themes are: The Sub Themes are: ( (12 12 12 12: :45 45 PM) PM) INDEPENDENT INDEPENDENT DIRECTORS DIRECTORS AND Independent Directors are required to be independent from the management of the company, analyze their performance and mediate any conflict that may arise between the shareholders and management. However, several controversies from the past starting from the Satyam scam in 2009, till the Tata- Mistry dispute in 2016, plant a seed of doubt as to whether the law can really infuse this characteristic of independence. The question that arises is whether companies should merely be following a check box approach to ensure compliance with the Independent Directors rather than abiding by the every spirit of the regulations. ( (1 1: : 30 30 2 2: : 15 15 PM) PM) INSIDER INSIDER TRADING TRADING: : Insider trading, the usage of privileged price sensitive information for trading in shares and securities to the detriment of general public, is a financial crime that has rapidly increased with the growth of financial market in India especially after its market capitalisation crossed USD 1.6 trillion. This caused for a revamp in the 23 year old legislation and the (Prohibition of Insider Trading) Regulations, 2015 was introduced by the SEBI. Upon this premise, it is important to discuss the challenges that obstruct its implementation and the possible drawbacks of this policy. ( (2 2: : 30 30 3 3: : 15 15 PM) PM) TAKEOVER TAKEOVER REGULATION REGULATION CHALLENGES new Takeover Code has been released by SEBI to replace the more than a decade-old Code Regulation. Some of the main features of the Code are initial threshold limit for triggering an open offer being increased from 15% to 25, requirement of the Person Acting in Concert to purchase a minimum of 26% (from 20% earlier) of additional stake in the target company, the creeping acquisition window of 5% for any acquirer holding more than 25%, introduction of the concept of voluntary offer, among others. Whether the Code has adequately addressed the challenges or lacuna in the Code with respect to public shareholding is the issue of debate. ( (3 3: : 30 30 4 4: : 15 15 PM PM) ) REGULATION REGULATION OF OF INTERMEDIARIES INTERMEDIARIES: : Market intermediaries play a very vital role in development of the market by bridging a gap between the companies and the investors. Typically, they are classified as merchant bankers, stock brokers, bankers to issues, debenture trustees, portfolio managers, registrars to issues, share transfer agents, function in inter alia in the primary markets. Regulation of intermediaries are carried out directly by SEBI or by stock exchanges, depositories, etc. for prevention of unfair trade practices and insider trading. What needs to be looked into are if there are any possible lacunae in the existing laws that need to be filled for better investor protection with respect to unfair trade practices. nterested p participants articipants will have Public Listed Companies in AND CORPORATE CORPORATE GOVERNANCE GOVERNANCE: : CHALLENGES: : The much debated

REGISTRATION FORM SEMINAR ON Regulating Public Listed Companies in India: Issues & Challenges Dear Sir, Please register me / following delegate/s for the Seminar, open for Company Secretaries, Chartered Accountants, Advocates & Students, on Regulating Public Listed Companies in India: Issues & Challenges to be held on 11th September, 2017 from 12 Noon-4:30 PM, at Room No. 911, Central Block, Christ University, Bangalore- 560029. Participant Details (in BLOCK LETTERS) Name: _________________________________________Designation________________________ Company/Bank/Institution___________________________________________________________ Address: __________________________________________________________________________ Telephone: Off: ___________________Res: ____________________Fax: _________________ Email: ______________________________________________ Mobile _______________________ Fees once paid will not be refunded INR 500/- Per Participant (Inclusive of GST) (Fee covers- Lunch, Evening Snacks, and Materials.) Registration: Through depositing/ transferring the amount to the Account: Name: CHRIST UNIVERSITY, Name of the Bank: THE SOUTH INDIAN BANK LTD. BRANCH: CHRIST UNIVERSITY BRANCH, ADDRESS: CHRIST UNIVERSITY CAMPUS, HOSUR ROAD, BENGALURU - 560 029, Savings Account No: 0396053000015000, MICR Code: 560059010, IFSC: SIBL0000396, SWIFT Code: SOININ55. Seats limited to 250 (served on first come first fully paid basis) In view of limited seats, confirmation of participation is subjected to return email from the Corporate Law Committee, Christ University, Bangalore. For Registration, please send the scanned copy of the Registration form enclosed with the payment details, to corporatelawcommittee@law.christuniversity.in CONTACT DETAILS: corporatelawcommittee@law.christuniversity.in 9632259597, 8961360408