Business Standard / New Delhi Jan 04, 2012, 00:55 IST
A leading corporate group headquartered in north India has accused a south Indian lobby of running the country’s top regulators. The group has written to the prime minister saying this lobby, which worked across the Reserve Bank of India, the Securities and Exchange Board of India and ministry of corporate affairs, has managed to add provisions in the Companies Bill that are harmful to north Indian business interests. The grapevine has it that this letter was instrumental in preventing the Bill being passed in Parliament. The group has also demanded MPs of its choice be part of the standing committee that will review the Bill. Now, if these MPs actually end up being members of that standing committee then we can be sure that writing letters to the prime minister is a good way to get things done.
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