Financial Daily
from THE HINDU group of publications

Thursday, April 20, 2000





Companies Amendment Bill, 1999 -- Plug the loopholes
THE system of notifying the Registrar of Companies of a director's resignation is inadequate: The intimation on his own resignation by the director concerned, is not accepted by the office. The prescribed Form 32, signed by another director or secretary alone is recognised by the Registrar. As a result, even after having resigned from the board, the director would continue to be treated as such by the authorities until the company chooses to file the form at its convenience. If, in the meantime, action is taken by a payee (under the Negotiable Instruments Act) or by a depositor or the DCA under the proposed Section 58AA, the plight of the director can be imagined.

Editorial bored
ONE of the first things I did when I became important was to appoint Mr. Pae Chu as my professional speech writer.

Labour reforms
THE PRIME MINISTER, Mr. Atal Bihari Vajpayee's assertion of his Government's commitment to removing labour market rigidities so as to make the Indian economy domestically vibrant and globally competitive has not come a day too soon. Addressing the 36th s ession of the Indian Labour Conference, he made it clear that post-reforms, the labour laws had become redundant, and stressed the need to change them to create a climate conducive to new investments in all sectors, especially small-scale industries and services.

`Indian Style of Management'
The mantras are similar to that of the swadeshi lobby. What is relevant to our big brothers in the West is not relevant in India. Our behaviour is different, values and beliefs are different, our needs are different, and so we need an `Indian Style of Management'.

A fall from grace
DO THE Gods in our country have feet of clay? That is the question everyone's asking, as our top cricketers are getting their feet muddy in the match-fixing controversy.

To b or not 2 b is different. It is not a brick-and-mortar company with a web presence. On the contrary, it is an Internet company with a brick-and-mortar presence. The company, an essential-wear retailer, set up shop just months after it started a busines s-to-consumer (b2c) website.

Pakistan: After Clinton's visit
Nearly a month after the visit of the US President, Mr. Bill Clinton, to Pakistan and his frank talks with the Chief Executive, Gen. Pervez Musharraf and his polite, but blunt address to the Pakistani people pointing out the dangers of an aggravation of their isolation, there are no signs, as yet, of any serious re-thinking by the military regime of its policies _ internal or external.

Telegraph Act: A futuristic look
The committee set up to review the Telegraph Act of 1885 has to revamp completely the archaic legislation and put in place a forward-looking law that will strengthen the telecom infrastructure, create a generation of satisfied us ers, make investments in the sector viable and put in place a telecom regime that respects the due process of law and equality, says P. M. Devaiah.

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