India Govt favour of corporate governance index


KOLKATA: The Ministry of Corporate Affairs (MCA) today said it was in favour of introducing a corporate governance index that would offer rankings to companies adopting governance standards.

“I would like to introduce a corporate governance index and am working on an award scheme for corporates,” Corporate Affairs Minister Veerappa Moily said.

The index would offer rankings for corporate houses adopting governance standards.

Moily also said that the ministry was keen to introduce a corporate governance policy to take forward the government’s efforts towards better governance in companies.

Speaking on the Competition Policy, he said it had been worked out and the competition law would be revisited and amendments would be introduced soon.

“I want the Competition Policy to be in place from January, 2012,” Moily said.

The proposed new Companies Bill is likely to get Cabinet approval soon and Moily expects the Bill to be placed before Parliament in the winter session.

Replying to a question, Moily said the government was waiting for a Direct Taxes Code before the International Financial Reporting Standards was implemented.

(Press Trust of India)

Please follow and like us:



Previous articleMaruti’s market share dips to 41%, lowest in a decade
Next articleLegal heat on profitable firms likely over CSR gap
India CSR Network
India CSR Network is India's biggest and most trusted news portal in the domain of CSR & Sustainability. India CSR welcomes stories, statements, updates, reports on issues that interest you. Feedback, comments will make it more purposeful and resourceful. It is designed and maintained by India CSR Group. Contents are non-fiction. Though all efforts have been made to verify the accuracy, the same should not be construed as a statement of law or used for any legal purposes. In case of any ambiguity or doubts, readers are advised to verify with the source(s). Statement, articles, views and contributions can be sent to