Dear All
The Delhi High Court judgment -"Private companies with minor Govt stake under RTI" is a land mark judgment and opens a large vista for public accountability. It aught not to be the private companies having minor stake of Govt stake only, but should also cover the 'Public Limited Companies.'
No doubt the public limited companies have a number of legal obligations to comply with including disclosure of its many activities to the share-holders and general public by way of statutory retunes with ROC. Yet the people at the top easily manage a number of illegal and criminal activities with impunity for long periods. Satyam case is classical example of the manipulations in connivance with auditors etc.
The Government must amend the RTI act and include the Public Limited Companies also in its ambit. The company law should also be amended to suitably that the registration of as a public limited company would attract RTI Act.
Y Singh N Rajput
Vadodara
17-5-10
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