Haryana to get Corporate Governance Institute

An Indian Institute of Corporate Governance will soon be set up at Manesar, Haryana to impart knowledge for better corporate governance.

"The proposed institute would have think tank from industry, corporate world, government representatives, legal luminaries and other experts in its board of director and will be autonomous in nature", said Anurag Goel, secretary, ministry of company affairs, at a seminar organised by the Associated Chamber of Commerce and Industries of India.

Without specifying the time frame by which the institute will come into place, Goel said institute would receive suggestions from the corporate world to match domestic corporate governance rules with the best practicing standards of the world.

Referring to the new Company Bill, the Company Affairs Secretary said that the ministry of company affairs would shortly introduce it in the Parliament and enact the Bill with bare minimum clauses and sections, so that it becomes a crisp and precise document.

He called upon the defence personnel to help government form strategies and plans, making their induction in board of directors of corporate world convenient.

Meanwhile, a suggestion emerged during the 2nd day of 'Independent Director's Course for Defence Officials' of ASSOCHAM, which said the new Company Bill should be enacted latest by Monsoon session, as inordinate delay has already taken place in its introduction in the Parliament.