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| More cos should go for listing: Corp Affairs Secy |
| Press Trust of India / Hyderabad Nov 13, 2009, 20:38 IST |
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The government today said that more companies should go for listing as it would help a large number of investors to become partners in the development of the corporate sector.
Speaking after inaugurating a national conference on 'Cost Audit-Enterprise Governance' at the Institute of Public Enterprise here, Ministry of Corporate Affairs Secretary R Bandyopadhyay said that there are 7 lakh active companies out of 9 lakh that are registered, but only about 6,000 of them are listed on the NSE and the BSE.
"Why the number is so low? More and more companies need to get listed and be partners in development of the corporate sector and we have to look into that process," he said, adding it should also be ensured that the interests of investors are well protected.
"The government of India encourages listing of more number of companies. If more and more companies get listed, more investors will become partners in development," he said.
Referring to the Companies Bill, he said the Companies Bill 2009 was already placed in Parliament, and a Standing Committee was looking into various aspects of the Bill and collecting views of all the stakeholders for some changes.
"Once they (Standing Committee) give their recommendations, we will send the Bill to Parliament and (it) will become a law," he said.
The Ministry of Corporate Affairs supports the corporate world for those activities which are aligned to the growth of the country, Bandyopadhyay said.
"We are trying to develop the corporate sector, develop corporate management and the corporate governance to accelerate growth for which professional organisations should also play their roles," he said.
Later, he also said that investigations into the over Rs 7,800-crore financial fraud in Satyam Computer is still being carried out by various organisations, including the CBI.
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