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CS Professional · Environmental, Social and Governance (ESG) - Principles and Practice · Governance Influencers

Kaveri Power Ltd, a listed entity, delays submitting its quarterly corporate governance compliance report to the stock exchanges. The company asks which regulator's framework primarily prescribes governance disclosures and compliance obligations for listed entities, so it can assess consequences. Which is correct?

SEBI is the regulator whose Listing Regulations prescribe corporate governance disclosures and periodic compliance reports for listed entities. Delay in filing therefore falls under SEBI's framework and enforcement. RBI, CCI and NFRA have different mandates, covering banking, competition and audit quality respectively.

  1. AThe Reserve Bank of India, through its master directions for banks
  2. BThe Securities and Exchange Board of India, through the Listing RegulationsCorrect
  3. CThe Competition Commission of India, through its combination rules
  4. DThe National Financial Reporting Authority, through auditing standards

Explanation

The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 set governance norms and periodic compliance filings for listed entities, and SEBI enforces them. RBI regulates banks, CCI deals with competition, and NFRA oversees audit quality and accounting standards enforcement, so they do not govern listed-entity compliance reports.

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