Sebi panel to review auditors' reports of companies constituting NSE – Nifty 50 & BSE Sensex

January 9, 2009: In the light of recent developments with respect to Satyam Computer Services Ltd,the Securities and Exchange Board of India (Sebi) has decided to set up a panel to review all records maintained by auditors on the quarterly results of companies listed on the Bombay Stock Exchange 30-share Sensex and the National Stock Exchange 50-share Nifty.

This exercise would be taken up following the publication of 3rd quarter results and is expected to be completed by end of February 2009.Some listed companies (on a random basis) outside the list of Nifty 50 and Sensex would also be covered in the exercise.

This action has been recommended by SEBI Committee on Disclosures and Accounting Standards (SCODA) which met on 9th Jan 2009. This committee consists of leading representatives of apex chambers, industry and capital markets.

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