After several months of working at cross-purposes, the Department of Company Affairs (DCA) has proposed to the Securities and Exchange Board of India (SEBI) to come together to evolve a ‘common grid’ to settle investor complaints against deviant corporate managements. According to top DCA officials, the communication has been made after realising that there was a lot of duplication of work between the two authorities, ever since the department, in successive moves, empowered SEBI to initiate prosecution proceedings on the basis of several investor protection clauses in the Companies Act some months ago.

Bofors documents not yet received

Secret documents relating to the Bofors gun deal have not yet been received from Switzerland and the matter is still before the examining Magistrate at Geneva and is therefore sub judice, the Rajya Sabha was told on Thursday. The CBI has addressed 20 communications to the Swiss authorities between January and June 1994 to get the documents relating to the investigation into the Bofors case, Mrs. Margaret Alva, Minister for Personnel, told Mr. Ram Jethmalani in a written reply.

Slowdown in US economic growth

The Government’s key forecasting gauge for June signalled a slowdown in economic growth and a Federal Reserve survey also released Wednesday found pockets of weaker business activity. Both the Commerce Department and the Fed reported that commodity prices were rising, and the central bank noted a pickup in wage growth — potential warning signs of inflation even as economic growth moderates.

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