InGovern has urged SEBI to take action against Viceroy Research over its report on mining major Vedanta, which the company denied.
InGovern highlighted the regulatory gap that allows foreign research firms to influence Indian markets without the same transparency standards as domestic analysts.
On the proposed demerger of Vedanta, InGovern and other leading proxy advisory firms recommended a vote in favor of the demerger for potential benefits such as enhanced management focus and improved capital market access.
InGovern emphasized that the entity structures criticized in the Viceroy report are common and legitimate in infrastructure, mining, and energy businesses, with similar structures used by large conglomerates globally.