Sebi seen facing hurdles in implementing proposals of Uday Kotak committee There has been criticism that many recommendations of the Udak Kotak committee on corporate governance will drive up compliance costs and encroach into other regulators’ turf Two months after the Uday Kotak committee on improving corporate governance at listed companies submitted its report, the Securities and Exchange Board of India (Sebi) is finding it hard to implement its recommendations, following criticism that many of them will drive up compliance costs, and encroach into other regulators’ turf, two people aware of the matter said. An email sent to Sebi on Tuesday was not answered until press time. However, Ajay Tyagi, chairman, Sebi said that the regulator is seriously considering the recommendations. “We have received hundreds of comments on the report; the examination is on,” Tyagi said at a conference organized by Association of Investment Banks of India on Tuesday. Sebi panel recommendation