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Disclosure focus on risks

Mumbai, Nov. 14 (PTI): In an effort to make companies share more information with investors, a standing committee on disclosure norms appointed by Sebi has suggested that managements should clearly spell out risks faced by companies and their plans to deal with them in the offer documents.

The draft documents should be approved by the company boards and the identity of promoter/director should be disclosed through photographs, PAN or the driving licence in the offer documents, the committee, headed by Y. H. Malegam, managing partner of S. B. Bilimoria & Co, said in its report. The regulator has set up the panel to review prevailing disclosure requirements and recommend changes in the prospectus or letters of offer for public or rights issues.

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