Minister of Company Affairs Prem Chand Gupta of India
representative of the Indian industry.
tainted software maker Satyam Computer Services.
Gupta expressed concern that the scandal would bleed beyond Satyam's offices and into the rest of the outsourcing industry, which has been a catalyst of India's economic growth in recent years.
Wed, Apr 16 02:35 PMNew Delhi, Apr 16 (ANI): Union Minister for Corporate Affairs Prem Chand Gupta took oath as Member of Parliament (MP) in Rajya Sabha on his re-election from Bihar.
Union Minister of State (Independent charge) Premchand Gupta is Rashtriya Janata Dal chief and Union Railway Minister Lalu Prasad Yadav's confidant.
var RTR_ArticleBlurb = " NEW DELHI (Reuters) - The government is working on choosing the directors for the new board of outsourcer Satyam Computer Services, Corporate Affairs Minister Prem Chand Gupta said on Saturday.
NEW DELHI (Reuters) - The government is working on choosing the directors for the new board of outsourcer Satyam Computer Services, Corporate Affairs Minister Prem Chand Gupta said on Saturday.
The UPA government was working hard to ensure self-regulation of the corporate sector, Mr Gupta said at the launch of the Accounting Technician course which will enable those who had failed to qualify for the chartered accountancy course another chance to work at a lower level.
Gupta said the three new board members will be Deepak Parekh, head of the Housing Development Finance Corp.
The new board will meet within the next 24 hours, but Gupta said the government may name up to seven more people to fill out the board.
Indias government is working on choosing the directors for the new board of outsourcer Satyam Computer Services, Corporate Affairs Minister Prem Chand Gupta said on Saturday.
The board of Satyam, which was scheduled to meet on Saturday, was dissolved by the government on Friday, when Gupta said a new board would be constituted with 10 members, which would meet within seven days.
On Saturday, Gupta said the government had received a letter from Lazard seeking board representation and it was being looked into to.
Prem Chand Gupta sworn-in as MP in Rajya SabhaUnion Minister for Corporate Affairs Prem Chand Gupta took oath as Member of Parliament (MP) in Rajya Sabha on his re-election from Bihar.
for excellence in financial reporting.
any financial help from the government and the new board is working on reviving the company, Corporate Affairs Minister Prem Chand Gupta said on Thursday.
Addressing the audience at FICCI's 80th annual general meeting on 'The Corporate Affairs of India: The Way Forward', the Gupta said that the new law will promote shareholders' democracy, and replace the 'approval based system' with a system of responsible disclosures.
Gupta said he had advised his officers to address genuine concerns of all stakeholders through regulations, which should be framed through a transparent and wide consultative process.
Gupta said the issue is now being addressed in the new law, with the approach being based on the general principles adopted by the United Nations Commission on International Trade Law.
Gupta said that more members to the board would be nominated only if needed.
But Gupta says that the thorny issue of independent directors would be sorted out by August.
PwC could be bannedGupta said that the new board would decide on new management for Satyam Computer and there was no decision to take over the management as yet.
Corporate Affairs Minister Prem Chand Gupta said the government would appoint 10 new members to the Satyam board, which would then meet within seven days.
Mr Gupta said that the e-filing facility includes incorporation of new companies, filing annual and other statutory returns, registration and verification of charges and applying for various approvals/clearances.
New Delhi, Apr 16: Union Minister for Corporate Affairs Prem Chand Gupta took oath as Member of Parliament (MP) in Rajya Sabha on his re-election from Bihar.