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A rise in the number of corporate frauds poses serious challenges to corporate governance laws, Union Minister Anurag Singh Thakur said on Friday even as he emphasised that wealth creators need to be respected.
Speaking at a function of the Indian Corporate Law Service Academy, the Minister of State for Corporate Affairs and Finance also said the government was determined to bring India into the list of the world’s top 20 countries in terms of ease of doing business. “In the present scenario, our economy is witnessing a rise in the number of corporate frauds, which include wilful defaulters and is having adverse impact on the capital formation. It poses serious challenges to corporate governance laws,” Thakur said.
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