First of all I congratulate Mr. C.B.Bhave for making SEBI a truly effective Market Regulator, while SEBI in past 2 year made enormous changes for disclosure & systems, which had been benefitted a lot to Investor community. But still a lot more requirement is there to make the Share market 100% genuine to the Investors, I suggest following reform required to implement by SEBI:
1) ALL IPO must be allowed to bring at Book Value not the value as promotor deem fit.
2) Disclose of shareholding pattern immediately on next day in the official website if Promotor, Group & any HNI/FII/FI/CO. invest or divest in the co.
3) NO Company should allow to De-list wthout giving exit route to their Minority shareholders.
4) Instead of delisting suddenly, SEBI must publish AD in News Paper for delisting of Share in 3 months prior to the delisting date, thus it will give opportunity to millions shareholder to exit from the co., as in last 25 years Shareholder lost huge money in these delisted companies.