Amid the raging storm over the Niira Radia tapes, Corporate Affairs Minister Salman Khurshid on Wednesday said his ministry would hold discussions with other ministries to regulate corporate lobbying.
"The government has taken several steps to protect interests of investors. The Companies Bill, 2009, which is before the Parliamentary Standing Committee, has allowed Class Action Suit for the first time in the country," corporate affairs minister Salman Khurshid said in the Lok Sabha.
Amid strong public reaction to the judgement in the Union Carbide case, the government is understood to be looking at legal position to check if Carbide India's non executive Chairman Keshub Mahindra could be barred from taking directorship in any company.
Most IT companies today have multiple delivery centres, physically verifying documents is arduous and difficult to determine where the actual billing is done
Corporate Affairs Minister Salman Khurshid on Wednesday downplayed fears that investors would lose confidence due to the row between SEBI and IRDA over market-linked insurance policies, as the issue will be resolved in favour of either one regulator or the other by the courts.
Affluent politicians in India are obviously upset with what the affluent corporate Indian is permitted to legitimately take home as a pay package.
The salaries that Indian CEOs get is just about okay by international standards. But it is the promoters who take the biggest packages.
Commenting on the deal, revenue secretary Sunil Mitra said, "I am proud India is going out and doing great things in the world sphere. I am proud as an Indian."
Mahindra Satyam has reportedly requested Khurshid to take up the issue of taxation with the Finance Ministry as it would be unjust to tax income that was never there.
The government on Thursday said it has prosecuted over 13,000 companies during the three years ending 2008-09 for not following the provisions of the Companies Act.
Muslims' enrolment at secondary level of education is less than that of the scheduled castes, a government survey has indicated.
Corporate Affairs Minister Salman Khurshid on Wednesday said that the bail granted to B Ramalinga Raju, the tainted founder of Satyam Computer Services, will not hamper investigations.
Corporate affairs minister also rules out private sector job quota.
Corporate Affairs Minister Salman Khurshid on Tuesday said there is no cause for worry about the possibility of US market regulator SEC slapping a penalty on Mahindra Satyam, related to the multi-crore fraud at the erstwhile Satyam Computer.
The Company Law Board earlier this year, extended the deadline for filing of restated accounts from December 2009 to June 30, 2010.
The resolution of Jamiat Ulama-e-Hind asking Muslims not to recite 'Vande Mataram' is "unacceptable" and will be "counter-productive", said Minority Affairs Minister Salman Khurshid.
Yoginder Sikand reviews Salman Khurshid's Sons of Babur -- A play in search of India.
The corporate affairs ministry on Monday told the Rajya Sabha that companies can pay higher salaries to the top brasses after getting approval from the government under the existing Act.
Corporate India on Monday warned the government that any regulation of CEOs' pay may lead to flight of talent and capital from the country and said salaries are best decided by the industry.
India is in the cusp of a reverse brain drain as the country's great minds are flocking back to the resilient economy that has withstood the global meltdown, Salman Khurshid, minister of state for corporate and minority affairs, has said.
The G-20 meeting of finance ministers and central bank governors at London recently discussed the issue of high salary and bonuses.
A bench of justices N V Ramana and Ajay Rastogi issued notice the Centre on a batch of petitions which has sought to declare The Muslim Women (Protection of Rights on Marriage) Act 2019 as "unconstitutional" on grounds that it allegedly violates the provisions of the Constitution.
Finance Minister Pranab Mukherjee will hold talks with the opponents of Women's Reservation Bill before the government's takes the next step on it, Minority Affairs Minister Salman Khurshid said on Thursday.
The high-voltage battle between the Ambani siblings -- Mukesh and Anil -- has put under stress the legacy of their father Dhirubhai Ambani, Corporate Affairs Minister Salman Khurshid said on Tuesday.
The government decided to withdraw its two nominees from the Maytas Infra board following the Company Law Board order handing over the reins of Maytas Infra, promoted by kins of disgraced founder of Saytam, R Ramalinga Raju, to IL&FS.
The two also met corporate affairs minister Salman Khurshid, who asked them to keep his ministry in the loop.
The Corporate Affairs Minister Salman Khurshid said on Friday investigations into the multi-crore accounting fraud in Satyam Computers is almost complete and a final report from the Enforcement Directorate and the Internal Revenue Services is awaited.
Terming the nearly Rs 10,000 crore (Rs 100 billion) scam in Satyam Computers as an aberration, the government on Thursday said the proposed new Companies Bill provides more stringent provisions to avoid such frauds in the future.
Does not want Satyam shareholders to be punished twice.
Rejecting Pakistan Prime Minister Nawaz Sharif's demand for United States intervention in resolving the Kashmir issue, External Affairs Minister Salman Khurshid on Sunday said India will not accept this as the matter is a bilateral one agreed to between the two nations.
A source close to the development pointed out that, with the newly-appointed Minister of Corporate Affairs Salman Khurshid publicly stating that Tech Mahindra would have to deal with the excess employee issue with 'sensitivity', this is one point that will surely be discussed.
India has urged the US Securities Exchange Commission (SEC) not to impose fine on Satyam, now Mahindra Satyam, in view of irregularities as the company was also listed there.
The Congress on Monday gave a clean chit to former Prime Minister Atal Bihari Vajpayee and spiritual preacher Deoraha Baba, whose names figure in the list of those found culpable by the Liberhan Commission, for the demolition of the Babri Masjid on December 6, 1992. "Vajpayee's name was not in the conspiracy (to demolish Babri mosque). His name was only in one of the lists," Minority Affairs Minister Salman Khurshid said.
Rejecting reports of his evading the law, he told reporters that the charges against him and his son were 'nothing further from truth'.
The government on Thursday said cost accounting body ICWAI can change its name to Institute of Cost and Management Accountants of India.
"During this month, the SFIO will begin the prosecution on those or those areas of company laws that the SFIO is expected to and have been authorised to proceed with," Corporate Affairs Minister Salman Khurshid told a press conference in New Delhi.
The former external affairs minister said, ""It was a problem of communication. But diplomacy is all about communication and if you are not able to communicate properly, what kind of diplomacy you are having."
Over 3.7 lakh companies have not filed annual returns and balance sheets, which is mandatory under the Companies Act, for the fiscal year 2008-09, Parliament was informed on Thursday.
Amid the raging debate over high CEO salaries, industry chamber Ficci's President Harsh Pati Singhania said if talent is to be attracted one has to pay for it and that in most cases they are "within limits".
Trade unions on Tuesday went one step ahead of Corporate Affairs Minister Salman Khurshid on the issue of CEOs' salaries suggesting their remuneration must be regulated by law as 'self-regulation is no remedy'.
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