Anil Singhvi speaks up for retail investors, demands action by Sebi, exchanges against 'information discrimination'
Zee Business Managing Editor Anil Singhvi has demanded that the Securities and Exchange Board of India (SEBI) take note of "information discrimination" by company promoters.
Decoding the lessons learnt from the GMM Pfaudler OFS (Offer For Sale) due to the gap in information that is provided to fund managers on one side and retail investors on the other, Zee Business Managing Editor Anil Singhvi has demanded that the Securities and Exchange Board of India (SEBI) take note of this "information discrimination". The Market Guru strongly batted for equal value being given to each and every investor and that includes fund managers and the retail investors. He said that after the GMM Pfaudler OFS case, it becomes important for SEBI to make rules where company promoters are bound to share the big decisions like restructuring, sale of business or shares, etc. with the exchange.
Batting in favour of retail investors, Anil Singhvi said, "After the GMM Pfaudler OFS case, it is quite clear that the promoters of the company shared the big decision with their fund managers keeping the retail investors in dark. In a democratic country like India, where each and every individual has equal voting rights, how come the company promoters ignore the interest of retail investors keeping big fund managers aware of each and every big development taking place in the company."
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Singhvi demanded from the market regulator SEBI to learn from this GMM Pfaudler OFS case and make law where promoters of the company will be bound to share big decisions of the company like expansion of business, selling of big portion of business, merger or acquisition, restructuring of business, buy or sale of shares by promoters with the exchange as they do with their fund managers.
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अनिल सिंघवी- बड़े ऐलानों की जानकारी सिर्फ फंड मैनेजर्स को क्यों?
रिटेल निवेशक के हक में फिर बोले @AnilSinghvi_
SEBI और एक्सचेंज से ज़ी बिज़नेस की मांग...
— Zee Business (@ZeeBusiness) September 24, 2020
Singhvi said that either it is fund managers or the retail investors, there should be no information discrimination from the company promoters' side and for that SEBI needs to come forward and make mechanism to stop such kinds of acts by promoters.
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