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AIBI releases Due Diligence Manual for its members


The Association of Investment Bankers of India (“AIBI”), a representative body of the Investment Bankers in India, in its efforts to establish best practices for the industry, has prepared a Due Diligence Manual as an indicative guide laying out diligence standards. At an event held last week in Mumbai, the Due Diligence Manual was released at the hands of Mr. Cyril Shroff, Managing Partner, Amarchand & Mangaldas & Suresh A. Shroff & Co., a leading Corporate Law firm in India.

The DD Manual is the culmination of detailed interactions of AIBI with its members and international and domestic legal experts. The Manual deals with the regulatory framework, scope of diligence, standards of record keeping etc.

Today’s ever changing market environment with greater emphasis on corporate governance coupled with our disclosure based regime, Investment Bankers play a key role in understanding the business of the issuer company and arriving at appropriate disclosure of all material information in the offering documents, which not only complies with the regulatory requirements but also facilitates investors to take an informed decision.

AIBI Chairman Sanjay Sharma during the launch ceremony said: “We hope that this manual will establish a uniform standard of diligence across the industry and thereby enhance the credibility of the Issuer and the investment banking community”.

AIBI is represented, through its Chairman, on SEBI’s Primary Market Advisory Committee, a forum that provides an opportunity to present the industry’s viewpoint on various issues.

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About AIBI
AIBI is a voluntary association of Investment Bankers in the country. It was formed in 1990’s at the initiative of Indian Capital Markets regulatory body, SEBI. All Merchant Bankers, registered with SEBI are eligible to be members of AIBI. AIBI is India’s only association representing the investment banking industry. On January 21, 2012 the name of the Association was changed from “Association of Merchant Bankers of India” to “Association of Investment Bankers of India” to encompass all the activities carried out by the Investment Bankers other than Issue Management. Currently, there are fifty nine members of the association.

AIBI-in a new direction:
AIBI is now reinventing itself. AIBI strives to be an objective Industry body with a credible action plan. AIBI balances its role as an industry body with its role of an influencer so that there is never any conflict of interest for the members and ensure that its activities are not confined to benefit a all members and not a selected few.

AIBI has a dedicated website ( www.aibi.org.in) and plans are afoot to make this website content rich to showcase our industry

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