Corporate governance norms must for all CPSEs

by The Economic Times, March 25, 2010.

NEW DELHI: The government today asked all the 246 central public sector enterprises to mandatorily follow corporate governance norms and business ethics, a step to ensure more transparency in their functioning.

The decision to make these norms binding on the central public sector enterprises (CPSEs), both listed in the stock market and unlisted, was taken by the Union Cabinet.
“The guidelines on corporate governance have now been made mandatory and are applicable to all CPSEs,” the Department of Public Enterprises (DPE) said after the Cabinet meeting.
Norms, introduced in June 2007, were voluntary in nature for a period of one year on trial basis. However, “in the light of the recent events in the corporate world, the continued need for adoption of good corporate governance principles have been reinforced,” the DPE said…(continue reading)

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