The minister of corporate affairs Mr. Veerappa Moily on 12th December 2011 moved 3 bills namely; the Chartered Accountants (Amendment) Bill, 2010, the Cost and Works Accountants (Amendment) Bill, 2010 and the Company Secretaries (Amendment) Bill, 2010
These bills were to amend sub-section (2) of Section 2 of three Acts namely the Chartered Accountant Act, 1949, the Cost and Works Accountants Act, 1959 and the Company Secretaries Act, 1980.
Posted in Company Secretary, Institute of Company Secretaries of India - ICSI, Truth of Our Time
Tagged Act, Amendment, Bill, Black Money, Chartered Accountants, Company, Company Secretaries, corruption, Cost Accountants, Cost and Works Accountants, Democracy, ICSI, India, India against corruption, Indian Companies Act, Limited Liability Partnership, Ministry of corporate affairs, Parliament, Profession, Professional, Rajya Sabha, Service Sector, Surrogate Firms, Whistle blower
International relation not only affect governments but public at large. In globalised world, international relations have been reached to our neighborhood tea stall or grocery shop. We judge a nation by product, we buy. We may not know, where Finland is in world map, but we know Nokia in our hand. We will surely judge Finland by Nokia. This is a public diplomacy.
The ever expanding flow of commercial products and services across borders has important implications for public diplomacy. Despite the escalation of transnational corporations, high profile brand names are closely connected with their countries of origin. Coca Cola, Nike and McDonald’s are inextricably tied with the United States. The same associations are true for Ikea with Scandanavia, Nokia with Finland, Sony with Japan, and Nestle with Switzerland.[i]
There are media reports that bomb blasts in Delhi are a bi-annual event thanks to very. All terrorists from Punjab, Kashmir and sometime other places do it with their free will. Blast certainly is a law and order problem, which our successive governments are failed to discuss. Police and Intelligence Agencies are busy elsewhere for their routine yes men exercises. Same time, we should ask, what makes Delhi a soft terror target. In my opinion, this is not a question of law and order but question of attitude of people who make a city.
Present scheme of the Companies Act, 1956 treat wrong doing principal officers of a company as “officer who is in default”. The Act under Section 5 explicitly lists “Officer who is in default”. This list, which looks like a most wanted list of police department, really cast numerous responsibilities on these officers. Presently, the Secretary of the company seems to be only professional listed herein. As all other persons, may or may not be professionally qualified, are business person and technical persons with only average person knowledge of his legal responsibilities. This section not only cast on the secretary practically all legal responsibilities of the company’s legal administration but also put him in much bigger shoes.
Corporate world is different from political world. These two worlds are dependent on each other for their survival. Earlier, corporate houses looked towards respective national governments for their social, economic, political and legal protection. Whenever corporate houses became powerful, they had influence upon their political protectors in policy matters. Until twentieth century, power and influence of corporate houses never grew beyond the control and wishes of their political masters. With increasing sophistication in working methodology of corporate houses, their ability of influencing governments goes beyond limitations. In term of Gross Domestic Product as well as human resource availability, many corporate houses are of much better position than many nation states. This is obvious, with increasing influence and power; these corporate houses affect the national and international policies of nation states.
Posted in Company Secretary, Truth of Our Time
We are facing challenge to our democracy. Apparently it is from blood less revolt by civil society now and by other groups like Naxals before; but it is not a case. Our democracy is facing long standing challenges of credibility from its most visible face, our political representatives and their way of functioning.
Posted in Truth of Our Time
Tagged Constitution, corruption, Democracy, India, India against corruption, Lokpal, Police state
Indian Railway is very slow in adopting and promoting all information technological developments particularly which are for benefits to the passengers. This starts from booking of ticket form IRCTC website.
Officially, online booking platform starts booking of Tatkal ticket at 8.00 hours but it never happen before 8.05 hours and that too with several failures.
Posted in Truth of Our Time
Tagged charges, Environment, India, Indian Railway, Online booking, Print, Tickets.
Today, after more than 60 of Indian independence, there is much talk about sedition and other laws in force. This time no one is talking about draconian laws like MISA, TADA, POTA, and UAPA. There is consensus amongst civil liberty activists that everyone know about these draconian laws and there widespread misuse all over India. After so – called conviction of Dr. Binayak Sen, focus has been shifted to general criminal laws like one for sedition and its potential misuses. Misuses of these laws generally do not attract attentions of general public and activists, and victim of these misuses silently suffer.
In ordinary criminal law i.e. Indian Penal Code sedition is defined as to bring or attempts to bring into hatred or contempt, or excites or attempts to excite disaffection towards the Government established by law in India.
Obama killed Osama is most discussed topic all over globe. It is a happy ending of Act – I of the high drama called as “Global War against Terrorism”. Even if, we are still living in terror, we are more happy now.
The global stage has already been prepared for next acts and parallel actions. It is highly unfortunate; centre stage is at our Indus valley with Kashmir and swat valley. Many Key actors are here in a circle; Pakistan, India, China, Russia, Arabs, and our guest of honours Americans along with Europeans. Certainly, beyond doubt, Americans are dominant player with UN and NATO as their most deadly weapons. All players have their vested interests, national ego, internal politics and international policy agenda.
Posted in Truth of Our Time
Tagged India, Obama, Osama, Sovereignty, terror, war against terrorism
What is root cause of corruption in India?
Every think – tanks in India have its own reason and solution of corruption. From Kautilya to Amartya Sen, all have discussed corruption.
For study of corruption in independent India, we have two periods;
(a) Pre – economic Reform, and
(b) Post – economic Reform era.
We Indian are very concerned about Kashmir issue. Sometime, international community believes that we love Kashmir more than India. Since Indian Independence, we are in war for Kashmir. At many point of time, in Union Government there was a particular minister designated as Minister of Kashmir Affair. Kashmir is a more disputed then we believe. The Land is de – facto divided into three pieces between India, Pakistan and China. It is located well between three regional superpower of Asia. World best armed forces keep vigil there on 24 X 7 hours basis.
This is a month of Ambedkar, not because his birth but due to newly found interest in him of Indian politicians, civil society and think tanks. After Anna Hazare’s ‘India Against Corruption’ everyone quoting him against such arm – twisting tactics earlier by Mahatma Gandhi and now by Anna Hazare.
History goes back to 1930-32, when the concept of separate electorate for Untouchable was raised by Dr. Ambedkar. The concept was not new to India as similar provisions were available to Muslim Christians and Anglo – Indian. Gandhi opposed the concept very strongly, claiming that it would disintegrate Hindu society. Gandhi started his hunger strike at Yerawada jail. Dr. Ambedkar was under tremendous pressure to save the life of Mahatma Gandhi.
We must apply our mind before coming to any conclusion. Before deciding, why should I support Jan Lok Pal Bill proposed by movement called “India against Corruption”, we should read carefully provisions of the Lokpal Bill tabled by the elected government. In present Lok Sabha, on 26th August 2010, our elected government, tabled this bill with nomenclature of “The Public Interest Disclosure And Protection To Persons Making The Disclosures Bill, 2010.” The bill seek redressed of all complaints against corruptions and protection of whistle – blowers.
10 (1) The Central Government shall ensure that no person or a public servant who has made a disclosure under this Act is victimized by initiation of any proceedings or otherwise merely on the ground that such person or a public servant had made a disclosure or rendered assistance in inquiry under this Act .
Widespread discussion against corruption in India is still not a proper public debate due widespread acceptance to the corruption. Corruption became a deep-rooted cancer for Indian society and patient became habitual to it. Corruption in India was like a chewing gum; initially when we use it, we like it but as soon as we became habitual it lost all tastes and now it is causing harm to jaws of Indian economic elephant.
Whistle blowing is a very hazardous job in this planet. This is particularly true for India. Here, whistle blowing is a prima-facie crime due to vast acceptance of corruption amongst above poverty line (APL) class.
Posted in Governance and Responsibility
Tagged Bribe, corruption, Crime, India, Whistle blower
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