Join Hands to Build a Smarter India: Sign in | Join now
News

Foreign Firms not Leaving India on Policy Issues: Govt

Monday, 18 March 2013, 04:47 Hrs
40
45
59
10
Print Email
software


New Delhi: The government said there are no broad trends to suggest that foreign companies are leaving the country on account of policy-related issues.

"Broad trends do not suggest that foreign companies are leaving the country on account of policy related issues," Corporate Affairs Minister Sachin Pilot said in a written reply to the Rajya Sabha to a query on whether foreign firms were leaving India due to policy paralysis and regulatory issues.

Asked about the number of firms having entered and exited the country in the last three years, the Minister said the information in this regard is being collected from the concerned organisations.

In reply to a separate question, Pilot said there was no "verified information" to suggest that cases of corporate frauds are on the rise.

On steps taken by the government to prevent frauds, he said: "The Ministry (Corporate Affairs) has evolved a system to generate Early Warning System to help in detection of frauds at an early stage".

Pilot said that "any serious instance or complaint relating to diversion of funds, fudging of accounts and mismanagement is referred for investigation to Serious Fraud Investigation Office".

"For violations/contraventions of provisions of the Companies Act, 195, necessary prosecutions are filed and for prosecutions under the Indian Penal Code, complaints are filed in the jurisdictional courts," he added.
 



Also Read:
4 Women Bikers on Off-Road Adventures
HIV Couldn't Beat Her Business Morale


 


Source: PTI
Experts on SiliconIndia
Zafar  Ahmad
IT Project Manager
Infogain
Prakash  Kumar
Director IT
Delta Electronics In
Aakash  Mulchandani
Sr. Engg
Qualcomm
Siddharth  Sharma
Assistant Manager
Manipal
Guruprasad  Hegde
Founder and CEO
RealGuruu
Suresh  Avantsa
Founder
hubVirt Software
Chayan  Bhattacharjee
HR-Manager
TBG
Manoj Chandraprakash Powar
Managing Partner
Fountainhead
Sign Up for DailyDose and Read the Day's Highlights
Write your comment now
 
SiliconIndia About Us   |   Contact Us   |   Help   |   Community rules   |   Advertise with us   |   Sitemap   |  
News:       Technology   |   Enterprise   |   Gadgets   |   Startups   |   Finance   |   Business   |   Career   |   Magazine  |   Newsletter   |   News archive  
Cities:        CEO   |     Startup   |   Mobile   |   CIO   |   Women   |   BI   |   HR   |   SME   |   Cloud   |   Marketing   |   QA   |   Java   |   Web Developer  
Community:      Members   |   Blogs   |   Indian Entrepreneurs   |   Gyan   |   Advice   |   Community   |   Find   |   Events   |   CXO Insights  
Job Board:      Jobs   |   Freshers   |   Companies   |   HR Speak   |   Forum  
Online Courses:   Web Developer   |   Java Developer   |   CCNA Training   |   SEO   |   SAS   |   SQL Server 2005   |   J2EE
Education:   MBA   |   MCA   |   Engineering   |   Training Institute
Life:          Real Estate   |   Travel   |   Finance   |   Gadgets   |   Movie Reviews   |    Jokes  
Send your feedback and help us continue to improve SiliconIndia
© 2014 InfoConnect Web Technologies India Pvt Ltd. all rights reserved