Khurshid asks IT sector to give inputs on new Companies Bill

KOLKATA - Corporate Affairs Minister Salman Khurshid Tuesday urged the Information Technology (IT) sector to spell out its standpoint and suggestions on the Companies Bill which is slated to come up before a standing committee of parliament soon.

“We are in the process of moving before the standing committee of parliament the Companies Bill, 2009. I hope your sector will make a special committee and come before the standing committee with your case,” Khurshid said, addressing a NASSCOM seminar on ‘Growth Strategies in a Reshaped Global Economy’.

Urging the industry to partner the government in development to ensure inclusive growth, he said: “We trust you, but we will also verify you. You also trust us, but at the same time verify us.”

Later, Khurshid told mediapersons that the government has taken several initiatives towards corporate governance. “We have set up the Indian Institute for Corporate Affairs, which is an intellectual think-tank that will partner Indian Institute of Technology (IIT), Kharagpur.”

Besides, the National Foundation of Corporate Governance has been founded along with the Confederation of Indian Industry.

“We are trying to demystify corporate governance. In this process, a great deal of educational programmes for the investors and investor protection will have to be implemented,” he said.

The minister clarified that the government was not proposing quotas for people from the minority community. “We are talking of partnerships, trust. We want job opportunities to open up for all. Best affirmative action should be that we make space for those who remained denied through collaborative efforts between the government and the private sector.”