Sebi’s whole-time member Ashwani Bhatia on Friday asked chartered accountants to be more diligent while auditing companies listed on the SME exchange platforms.
Addressing an industry event of CAs, Bhatia said it is important to look at the listed SMEs (Small and medium-sized enterprises) in a more careful way because the same companies will grow to be a part of the main board in the future.
“We have seen some challenges there (SME platform). We request you to be extra careful as far as SME IPOs and fundraising are concerned because these small companies will become much, much bigger going forward,” the banker-turned-capital markets regulator said.
Bhatia expressed satisfaction with the progress of the SME platform, stating that Rs 14,000 crore has been raised by such entities, with Rs 6,000 crore being raised in FY24 alone.
He compared the CAs to “doctors”, and added that they act as first-level regulators by ensuring orderly conduct of companies.
Bhatia said many Sebi investigat
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