New Delhi, July 13: The Companies Act does not empower the government to advise India Inc to provide jobs to minorities, but the corporates should take the
initiative on their own, Corporate Affairs Minister Salman Khurshid informed Lok Sabha on Monday.
“The provisions of the Companies Act do not empower the government to advise the corporate sector for providing jobs to minorities…the government has started the process of developing a common perspective on the issue of voluntary affirmative action by the corporate sector,” Khurshid told Lok Sabha in a written reply.
Earlier, the government had said creating more jobs is needed for uplifting the weaker sections of society rather than reservation.
The minister had said empowerment and capacity building are the answers and not reservation.
To a query on strengthening the enforcement mechanism against corporate frauds in the country, Khurshid said the new Companies Bill, 2008, provides for more stringent provisions in case of fraudulent activities by firm, directors and auditors etc.
It also seeks to better regulate related party transactions, impose restrictions on non-cash transactions, prohibiting insider trading etc, he added.
–PTI