| CEO pay: Khurshid leaves it to the board | 17-NOV-09 |
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| Making it clear that it does not want to play the regulator by intervening in executive remuneration, the government today said the board is the appropriate body for it, but opined it needs to be ensured that such decisions are taken democratically. |
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| Sanghi shareholders up in arms against mgmt | 28-SEP-09 |
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| Shareholders of city-based Sanghi Industries Limited are up in arms against the management for failing to inform them about the annual general meeting (AGM), scheduled on September 29 at Sanghi Nagar on the city outskirts. |
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| Audit firms may face action for wrong-doing | 23-AUG-09 |
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| The ministry of company affairs (MCA) intends to insert a clause in the Companies Act that will make audit firms also liable to prosecution as against the existing provisions that limits penal action only to chartered accountants. |
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| Schedule VI of Companies Act under revision | 29-JUN-09 |
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| The government has decided to revise schedule VI to the Companies Act, which stipulates the manner in which every company prepares and presents its balance sheet and profit and loss account. The revision aims to harmonise and synchronise the general disclosure requirements under schedule VI with those prescribed in International Financial Reporting Standards (IFRS), which India will adopt from April 1, 2011. The draft of the revised schedule VI is available at the web site of the Ministry of Corporate Affairs (http://www.mca.gov.in/). |
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| Need for separate Act for SFIO: Panel | 23-JUN-09 |
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| A government-appointed committee has recommended a separate Act for the Serious Fraud Investigation Office (SFIO) incorporating a provision for ‘whistle blower’ to check financial frauds, like the one at Satyam Computer, at an early stage. |
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| Investor protection fund remains unutilised | 02-MAY-09 |
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| The Investor Education Protection Fund (IEPF), which was incorporated about seven years ago to protect the interests of investors, is languishing as there are hardly any proposals before the government on which the money from the fund can be spent. |
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| MTNL, DLF under Company Affairs Ministry's scanner | 23-FEB-09 |
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| The government-owned Mahanagar Telecom Nigam (MTNL) and real estate major DLF figure in the list of 150 companies in which the government has ordered inspection of books of accounts after receiving complaints from certain quarters. |
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| Tata Comm financially sound despite delay in govt nod | 20-FEB-09 |
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| A request by Tata Communications last month to relax the norms to raise over Rs 2,000 crore is yet to get the approval of the government, which holds 26 per cent stake in the telecommunications provider. But the stalemate is unlikely to affect the company’s operations or financial health. |
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| 'Ban Satyam directors from other boards' | 19-JAN-09 |
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| The government has approached the Company Law Board (CLB) with a request that all former directors of scam-hit Satyam Computers should be banned from becoming directors in other companies in India. |
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| Current laws do not address auditors' duty to the public | 19-JAN-09 |
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| Till the breaking news hit the ceiling some days back, the perception of the Satyam scam was one of disregard of corporate governance, coupled with the feudal stance of the promoter in investing in his sons’ business. The nonchalance of the directors was criticised, as it did not behove the icons who graced the board. I received several negative reactions to my last column, questioning my pessimistic outlook and naivety in not appreciating that empires cannot be built, if every move and action is monitored minutely. Post the historic confession, I did however receive retractions in writing. |
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| 100% FDI allowed in facsimile editions of foreign newspapers | 15-JAN-09 |
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| In order to encourage publishers of foreign newspapers like the Wall Street Journal, The Independent and several others to start the facsimile editions of their international editions in India, the government has allowed up to 100 per cent foreign direct investment (FDI) in the segment, but with certain riders. |
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