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InGovern wants SEBI action against Viceroy Research on Vedanta report

Proxy advisory firm InGovern has raised concerns over foreign research outfits not registered with SEBI publishing reports on Indian companies without being subject to Indian regulatory scrutiny even when their actions directly impact Indian investors and markets.

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InGovern wants SEBI action against Viceroy Research on Vedanta report

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  1. INGOVERN WANTS SEBI ACTION AGAINST VICEROY RESEARCH ON VEDANTA REPORT

  2. INTRODUCTION Proxy advisory firm InGovern has raised concerns over foreign research outfits not registered with SEBI publishing reports on Indian companies without being subject to Indian regulatory scrutiny even when their actions directly impact Indian investors and markets

  3. The firm has published a note on the recent report by the US-based short-seller Viceroy Research making several allegations against mining major Vedanta, which the company denied. “Instances have emerged where offshore research firms release critical reports while holding economic interests in the securities, yet did not respond to regulatory summons or cooperate with Indian authorities,” said InGovern.

  4. Indianregulatorscanenforce complianceandaccountability amongdomesticresearch analysts,buthavelimited recourseagainstunregulated foreignentities,itsaid. Thiscreatesaregulatorygap, allowingsuchfirmsto influenceIndianmarkets withoutadheringtothesame standardsoftransparency, saidInGovern. said InGovern. Indian regulators can enforce compliance and accountability among domestic research analysts, but have limited recourse against unregulated foreign entities, it said. This creates a regulatory gap, allowing such firms to influence Indian markets without adhering to the same standards of transparency,

  5. Final Words The parent companies often raise debt at the group level and use subsidiary cash flows for servicing, which is disclosed and regulated. “This model is not unique to India — most large conglomerates globally use similar structures, as seen with Glencore, Anglo American, and BHP,” the report said. Read more :- https://economictimes.indiatimes.com /industry/indl-goods/svs/metals- mining/faster-mining-nods-key-to- meet-30-aluminium- goals/articleshow/122423291.cms? from=mdr

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