Our Bureau Mumbai, Dec. 17

The Corporate Affairs Minister, Mr Salman Khurshid, said on Friday that if there is any intrinsic link between corruption and lobbying then it should be broken either by regulation or legislation.

“In case there is any intrinsic link between corruption and lobbying, it should be broken and stopped. And this can be done either by regulation or legislation,” said Mr Khurshid at a corporate governance event organised by the Confederation of Indian Industry.

He said his Ministry was in talks with other Ministries to discuss whether anything needs to be done on the matter and whether there is a framework required for regularising lobbying in India.

‘Balanced view'

However, he said, it does not amount to legalising lobbying; the Government needs to take a “balanced view”. “I can tell you very clearly…that lobbying is not illegal in this country…there may be lobbying that is innocuous, that is innocent, that happens all the time. There are pressure groups, there are organisations, there are business associations, there are public-minded citizens' groups and there are people in the media who take up positions.”

The Minister also said he has taken the same position in the case of the Indian Premier League (IPL) as well. The Ministry is in talks with the Sports Ministry on whether some “specialised regulatory structure” needs to be put in place so that sports authorities remain regulated in a manner that is “sensible, reasonable and transparent,” he said.

On a model for corporate governance, Mr Khurshid said India needs its own model of corporate governance based on its “ethos” and way of functioning.

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(This article was published in the Business Line print edition dated December 18, 2010)
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