Tuesday, February 16, 2010

Re: [rti_india] CSR


Dear Mr Thakur,

In India after Constitution of India, we have "The Companies Act 1956" to govern the management of Companies from Incorporation to Liquidation.


However some frauds to my knowledge, the run away act of the Finance Companies in 1997 (involving around Rs. 3 lac crore), JVG Finance, Kuber Finance and numerous plantation companies, Harshad Mehta, Satyam etc. cases are few to describe how it is being enforced.


To my knowledge, The Ministry of Company Affairs is fully Computerised department to look into the affairs of Companies in India. However Frauds are increasing day by day. It is only a matter of search that some more big fishes out of net.


Accordingly I am of opinion that we have planty of Laws, But we need serious implementation thereof. We don't need overlapping laws. In recent past I have seen many public authorities showing justification of Charging additional fee. Had the RTI been drafted that "Not withstanding any provision contained in any act the, no additional fee shall be charged from the applicant under this Act" I think a long series of litigations would have not been a raised. Accordingly Had the CIC/SIC, where the pio has not given any information in a case must have been slapped with compulsorily penalities would have religiously reduced the their working. But as all is going leniently, no new law shall solve the problem for CORPORATE SOCIAL RESPENSIBLITY.  


Accordingly I most humbly vote against need of such a new law.



--- On Tue, 16/2/10, Amitabh Thakur <amitabhth@yahoo.com> wrote:

From: Amitabh Thakur <amitabhth@yahoo.com>
Subject: [rti_india] CSR
To: "RTI" <rti_india@yahoogroups.com>
Date: Tuesday, 16 February, 2010, 8:55 AM


I pose a question before this august gathering.
There are a few countries that have definite and specific Corporate Social responsibility Acts. India does not have as on now. Does any country need specific Corporate Responsibility Act for the Corporate to become responsible to their Social responsibilities? Or should it be left to their own wisdom?

Amitabh Thakur
Presently at IIM Lucknow
# 94155-34526

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