SEBI chief M Damodaran on Wednesday said "standards are required" when companies, including those from the oil sector, give out information in public domain and added that the market regulator was working with the directorate general of hydrocarbons in this regard."Clearly it is good to have a system in place which lets you know what is the right time to make announcement.... whether its premature or not," Damodaran said on the sidelines of a CII conference on corporate governance.
"Standards are required," the SEBI chief said when asked whether there was a need for a mechanism to determine the timing and veracity of announcements.
He said even as the DGH has a system to determine when to make an announcement on discoveries it was working with SEBI on how to relate it to capital markets.
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