India's stock market regulator announces new disclosure rules.
After the detection of massive fraud at Satyam Computer Services, the Securities and Exchange Board of India (SEBI) will make it mandatory for promoters and other founder-directors of companies to disclose their pledged shares.
Meanwhile, Maharashtra Chief Minister Ashok Chavan has asked the state power distribution company to scrap a contract awarded to Maytas, which is controlled by the family of Satyam founder Ramalinga Raju.
(SOUNDBITE) (English) C B BHAVE, CHAIRMAN SECURITIES AND EXCHANGE BOARD
OF INDIA
(SOUNDBITE) (English) ASHOK CHAVAN, CHIEF OF WESTERN MAHARASHTRA STATE
