Press Information Bureau

Government of India

Ministry of Corporate Affairs

04-December-2012 20:27 IST

Ministry of Corporate Affairs had constituted a committee to formulate a Policy document on Corporate Governance under the Chairmanship of Shri Adi Godrej on 07.03.2012. Giving this information in written reply to a question in the Rajya Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said that the committee has since submitted its report to the Central Government suggesting adoption of certain ‘guiding principles of Corporate Governance’ and not a draft national policy on the subject. It is proposed to obtain comments/suggestions of public to the recommended principles before deciding further course of action in the matter, the Minister said.

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KKP

Guiding principles of corporate governance proposed, with adoption conditioned on public consultation before further policy action. An advisory committee submitted a report recommending adoption of guiding principles of Corporate Governance rather than a draft national policy, and the Government proposes to obtain public comments and suggestions before deciding on further action, signalling a consultative approach to policy formulation.