Govt clears 8 pacts for info exchange on corporate matters

Agreements signed by MCA, fair trade regulator CCI and Indian Institute of Corporate Affairs with foreign organisations to facilitate the exchange of knowledge and information, were today approved by the Cabinet.
These 8 pacts will facilitate the exchange of knowledge and information, technical cooperation, experience sharing, enforcement cooperation with the organisations concerned.
The areas include corporate governance and corporate social responsibility (CSR), in the spheres of corporate regulation, professions of accountancy and corporate disclosures and reporting.
The implementation of the MoUs will be monitored by a bilateral Working Group on corporate governance and CSR.
These MoUs are signed between Ministry of Corporate Affairs and the Ministry of Economic Affairs of Netherlands.

Besides, agreements have been signed by CCI with Federal Anti-monopoly Service of Russian Federation, Australian Competition and Consumer Commission, Directorate General for Competition of European Commission, Competition Bureau of Canada.

In addition, IICA has entered into pact with George Washington University, USA, Institute of Directors, UK and International Finance Corporation.
The Union Cabinet has given "ex-post facto approval in respect of Memorandum of Understanding entered into by Ministry of Corporate Affairs, Competition Commission of India (CCI) and Indian Institute of Corporate Affairs (IICA) with Foreign Countries/organisations," an official press release said.
The "ex-post-facto approval" for the MoU was given by the Cabinet chaired by Prime Minister Narendra Modi.