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    RoC of Maharashtra.
    Cabinet approves the Lokpal Bill, 2011
    Prime Minister's opening remarks at the all party meet on the Lokpal bill
    Preliminary transcript of the Q & A session between the PM and Newspaper Editors.
    Jurisdiction of Companies Act under which SFIO is functioning is restricted to India only
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    September 8, 2011
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    Foreign exchange compliance concerns raised over subsidiary restructuring, prompting referrals to financial regulators and licensing authority.
    Complaints alleged restructuring of a foreign subsidiary and subsequent acquisition to circumvent foreign exchange controls and that the subsidiary financed a yacht purchase; the Registrar found no breach of the Companies Act, 1956, and referred potential foreign exchange and external borrowing issues to financial regulators while sending a license fee matter to the telecommunications licensing authority.
    July 28, 2011
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    Anti-corruption authority empowered to investigate senior public officials and prosecute without prior sanction, with property attachment powers.
    Establishes a Lokpal with a Chairperson and eight Members (half judicial), an Investigation Wing and a Prosecution Wing. Jurisdiction covers post tenure Prime Minister, Union Ministers, Members of Parliament, Group A officers and equivalent officers in government financed or controlled bodies, and officers of government aided or publicly funded societies/trusts above a notified income threshold, excluding religious organisations receiving public donations. The Lokpal may initiate prosecution without statutory sanction and may attach property obtained through corrupt means.
    July 3, 2011
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    Lokpal institution must secure broad consensus and align with constitutional checks before parliamentary introduction.
    The government affirms commitment to enact a Lokpal Act establishing a strong, effective and swift institutional mechanism to tackle high-level corruption and intends to present the bill in the forthcoming parliamentary session. A joint drafting committee achieved consensus on many issues but significant divergences remain; the meeting seeks free and frank discussion to build the widest possible support. The Lokpal must complement existing anti-corruption laws, be accompanied by procedural simplification and transparency measures, and operate in harmony with other institutions within the Constitution's basic-structure framework.
    June 29, 2011
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    Lokpal inclusion debate: Prime Minister urges focused anti-corruption design and national consensus on institutional scope.
    The Prime Minister addresses regional security and bilateral engagement, emphasizes a cautious, consultative approach to incorporating the Prime Minister and other officials under a statutory anti-corruption institution, advocates focusing enforcement on high-level corruption, and seeks political consensus on the Lokpal's scope. He defends measured law enforcement responses to public demonstrations while urging civil society to operate within democratic norms. He also highlights priorities for administrative reforms, procurement transparency, infrastructure and defence modernization, and links development initiatives to internal security objectives.
    March 15, 2011
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    Jurisdictional limitation: Companies Act applies within national territory, while cross-border fund diversion is investigated by other agencies.
    The investigatory authority under the Companies Act is confined to the national territory; SFIO operates within that territorial scope and lacks extraterritorial reach, while diversion of funds outside the country is investigated by other law enforcement agencies possessing the requisite powers.
    March 3, 2011
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    Corporate fraud investigation into alleged diversion of funds continues; disciplinary action pending and international evidence awaited.
    Investigation into alleged diversion and siphoning of funds at Satyam is being conducted by SFIO in association with criminal and enforcement agencies to determine directors' roles; disciplinary proceedings against six chartered accountants remain pending, and criminal charge sheets are contingent on evidence sought via letters rogatory from foreign jurisdictions.
    March 1, 2011
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    Assessment of unaccounted wealth initiated to map money laundering activities and national security implications through institutional research.
    The Government approved a coordinated, timebound institutional study to assess unaccounted income/wealth inside and outside the country, identify activities and money laundering mechanisms, and evaluate national security ramifications; three national institutes will undertake the research with inputs from relevant ministries and an eighteen month completion timeline.

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      PMLA, Black Money & ED

      Prime Minister's opening remarks at the all party meet on the Lokpal bill

      July 3, 2011

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      Following is the text of the Prime Minister Dr. Manmohan Singh's opening remarks at the all party meet on the Lokpal bill:

      “I welcome all of you to this All Party meeting on the Lokpal bill. I am grateful to you for having found the time to participate in this important meeting.

      The enactment of a strong Lokpal bill has attracted a lot of attention during the past few months. As you know, we constituted a joint drafting committee consisting of five Union Ministers and five nominees of Shri Anna Hazare including himself. The committee had nine meetings. While considerable progress was achieved in evolving a consensus on many issues, a few important issues remain on which there is a divergence in our views and those of the nominees of Shri Anna Hazare. The papers circulated to you bring out these issues and my senior colleague Shri Pranab Mukherjee will elaborate on them as we go along.

      There is no doubt that corruption is a major issue today. It is not that we do not have legal and institutional arrangements in place to tackle corruption. In fact, we have a number of laws, like the Prevention of Corruption Act, the Prevention of Money Laundering Act, the Central Vigilance Commission Act, the Right to Information Act etc. which empower citizens to have access to information and which provide for stringent action against delinquents. However, there is a feeling that the institutional arrangements in place are not strong enough to ensure that the guilty, especially those occupying high positions, are brought to book swiftly and given deterrent punishment.

      I must make it clear at the outset that we, in government, are committed to the enactment of a Lokpal Act, which provides for a strong, effective and quick institutional arrangement for tackling corruption in high places. We are also committed to bringing the bill before Parliament in the coming Monsoon Session. However, it is important that such an institutional arrangement enjoys the support of as large a section of people as possible and that there is the widest possible consensus regarding the bill. We have convened this meeting in this background. We are looking forward to a free and frank discussion on contentious issues so that your valuable views could be taken into account while presenting a suitable bill in Parliament.

      I must also add that while a good law and a strong institution are necessary to tackle the problem of corruption, these alone would never suffice. Along with these, we need to focus on simplifying procedures, reducing discretion, eliminating arbitrariness and increasing transparency in the way government functions. It has been our experience that whenever such institutional changes have been made, both the opportunity for and the incidence of corruption have been reduced dramatically. We are focussed on this process and we propose to pursue this with vigour and speed.

      Finally, we have to keep in mind that whatever arrangement we propose has to be for the larger good of our society and our country. The institution of the Lokpal has to work in harmony with other institutions and laws and it has to function within the framework of the basic structure of our Constitution. It has to add to and not detract from the legitimate role and authority of other institutions in our democratic structure. The Constitution provides for an intricate system of checks and balances and the new institution of Lokpal has to find an appropriate place in that matrix.

      I look forward to your views and suggestions on the Lokpal bill.”

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