The Serious Fraud Investigation Office (SFIO) will have powers to investigate and prosecute corporate entities under the Companies Bill, 2011, expected to be cleared by the Union Cabinet before Diwali.  The bill also envisages rotation of company auditors for higher accountability, corporate social responsibility, a more effective regulation of related party transactions and stricter provisions to prevent siphoning of funds through subsidiary and associate companies.  The government expects the bill to modernise,...

AS THE UPA government struggled to hide its embarrassment over the finance ministry note on the 2G spectrum allocation, the RTI Act — through which the note was made public — has become the whipping boy. Senior Cabinet members such as Corporate Affairs Minister Veerappa Moily and Law Minister Salman Khurshid have hit out at the ‘misuse’ of the transparency law. Moily called for a national debate as he claimed RTI...

Full text of the speech delivered by the Comptroller and Auditor General to young police officers at the Sardar Vallabhbhai Patel National Police Academy in Hyderabad on October 11, 2011. I am happy to be present today at this premiere training institution to address a group of young officers at the threshold of their careers, as well as senior officers occupying responsible positions in the State Police forces. In a world...

What began as a few whispers is now a booming drumbeat. Powerful senior ministers are asserting that the Right to Information Act (RTI), till now flaunted as one of the UPA government’s biggest gifts to the aam aadmi, is “transgressing into government functioning”. Similar misgivings are being voiced on another constitutional body that has been in the news lately—the Comptroller and Auditor General of India (CAG). Put together, this has...

The Congress appears to have put the cat among the pigeons by suggesting that the proposed Lokpal Bill — currently before a Standing Committee of Parliament — be given constitutional status to give it more muscle. Taken aback, both the Opposition parties and the Team Anna have objected to the move, saying it is a ploy to delay the passage of the Bill as it would require a Constitutional amendment —...