Auto Pilot

With roughly six months to go for the general elections, the lame-duck nature of the current government was sharply underlined at a recent meeting between Minister of Corporate Affairs Sachin Pilot and industry representatives to discuss the newly passed Companies Act, 2013. Pointing to the problem of overlapping control by the various financial sector regulators and the ministry, industry veteran and Chairman of Bajaj Auto Rahul Bajaj kindly told an embarrassed Pilot, "I understand, you cannot do much on these issues. I should perhaps take them up with the finance minister or better with the new government." Talk about inconvenient truths.