Government to introduce new Companies Bill in Parliament soon
‘Prime Minister, go back. Roll back diesel price’ is definitely not what Prime Minister Manmohan Singh might have expected to hear as he stood up to deliver his address at the ‘Conference on Economic Growth in Asia and Changes of Corporate Environment’ here on Saturday.
The protest took everyone by surprise, as the event was being held in a high-security area, Vigyan Bhavan. The reason for the disruption was the not-so-popular decisions taken by the Government recently. According to reports, the protestor was a lawyer, Santosh Kumar Suman, a member of the Supreme Court Bar Association, and had a valid invitation to enter the venue.
Corporate governance
However, the Prime Minister maintained his calm, waiting for a while before carrying on with his address. “There is a need is to build a climate that attracts investment and encourages and rewards innovation, and to establish fair and effective regulatory institutions as well as legal processes”, he said. “Above all, we have the responsibility to ensure probity, transparency and accountability in the processes of governance,” he added.
Singh stressed that there was a need for modern, efficient and innovative companies, capable of competing with the best in the world and living up to the highest standards of corporate governance.
Increasing use of the word ‘inclusive’ was an indication of the new emphasis on equity in economic and social processes, the Prime Minister said.
“New laws in areas such as regulation of the securities market, competition and limited liability partnerships have been put in place. We will soon bring before Parliament the new Companies Bill that has been in the making for quite some time now,” he added.
On the importance of good corporate governance, including responsible conduct towards all the stakeholders, within a corporation as well as outside, he said this was seen as good economics besides desired moral behaviour.
“Corporate social responsibility (CSR) is, therefore, increasingly being seen as a fundamental dimension of the social contract between human beings and, therefore, sought to be subject to public disclosure and scrutiny,” the Prime Minister said.
Social responsibility
He said the evolving economic space had to be addressed by all organs of Government: the executive, legislature and the judiciary.
“The balance between the three organs may appear to get unsettled at times, but ultimately it has stood the test of time,” he added. On judicial decisions, Singh said that many a time these have a transnational impact, as global financial and trade systems get more closely integrated.
The conference was organised by the Indian Law Institute and attended by legal experts from across Asia, besides the Chief Justice of India, S.H. Kapadia, and Law Minister Salman Khurshid.
Keywords: Conference on economic growth, Prime Minister, Manmohan Singh, slogan shouting, Vigyan Bhavan, Companies Bill
Comments:
Hi,
This is gonna shock all of you , out of your pants.
It was decided in the Bilderberg club long ago, to gate crash into
Indian economy, by a conspiracy.
If you want to know what this elite club is –
Punch into Google search
THE SHREWD CLUB WITHIN THE NAÏVE BILDERBERG CLUB- VADAKAYIL.
And if you want to know who runs the Bilderberg club by remote control
—
Punch into Google search
WORTH MORE THAN THE SUMTOTAL OF ENTIRE FORBES LIST- VADAKAYIL
The banking cartel had been given a toe hold in India, by giving away
FDI in multi-brand retail and FDI in insurance.
Insurance affects transport costs and trade costs -- it requires
perception to understand all this.
Patriotic Indians wake up!
DORKS and desh drohis shall lay off !
Capt ajit vadakayil
..
the same PM who was then FM in 1991 made the reforms and after almost
21 years the same type of reforms are being introduced. so all these
years after 1991 instead of making progress still we are introducing
new reforms. he has accepted it. the fdi is definitely going to make
lot of problem to indian public. his own economic adviser mr
rangarajan spoke that 30 percent of kirana shops will be closed
once the fdi retail comes into force. it is a known fact that
Business means profit otherwise it is charity. The FDI will
definitely make profit and we can expect that our future generation
both rural and urban will become servant of the FDI. the
enteraprenurship will shade away from the youth. these politicians
will go one day after pledging the country to foreign institutes.
The other day PM was chairing and it is likely to be cleared in
investment by FDI in pharma sector and no medicine will be cheaper
except making loud noise by the cabinet and making false assurance to
SC.
That lawyer fully utilised the oppertunity for showing anger against the
price hike in deisel. We the Aam Admi should support him instead of
blaming.
we don't need FDI. We urgently need FRI(Foreign Rule In India) , because India was dream of most honest Aurangzeb and most disciplined Queen Elizabeth. We always believed in loot , theft , bribe corruption and cheating. At the most one or two persons like Arving or Tegh-Bahadur can be honest. One man army can win but there will be seesh ganj only. If we all win there will be daljeet ganj.
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