Mechanism to check ‘vanishing’ companies exists: Khurshid

September 15th, 2009 KOLKATA - The centre will finalise a comprehensive roadmap for Indian corporates by November to adopt the International Financial Reporting Standards (IFRS) set to be operational from 2011, Corporate Affairs Minister Salman Khurshid said Tuesday. "We will finalised the roadmap by November after consulting regulatory bodies like Securities & Exchange Board of India," Khurshid told media persons on the sidelines of function here.

August 31st, 2009 NEW DELHI - Corporate Affairs Minister Salman Khurshid Monday said prima facie some evidence indicated that funds had been transferred from Maytas Infra to scam-tainted Satyam Computers, now Mahindra Satyam. "When the accounts are stated, this will become clear as to where the money has gone," said Khurshid while briefing reporters on a new Company Law Board (CLB) order regarding Maytas Infra.

August 31st, 2009 NEW DELHI - Infrastructure Leasing and Financial Services Ltd (IL&FS), a leading infrastructure development and finance company, will be the new promoter of Maytas Infra, union Minister for Corporate Affairs Salman Khurshid announced Monday. "IL&FS will be the new promoter of Maytas Infra following an order of the CLB (Company Law Board)," Khurshid told reporters here.

August 3rd, 2009 NEW DELHI - A new Companies Bill was introduced in the Lok Sabha Monday with stringent clauses to deal with corporate frauds against the backdrop of the Satyam Computer Services scam, besides calling for special courts to prosecute offenders and addressing the needs of India Inc in today's globalised environment. The bill, introduced by Corporate Affairs Minister Salman Khurshid, is centred on stakeholder protection with the provision for class action suits that allow a group of people with similar grievance to file a joint petition.

July 27th, 2009 New Delhi, - A whopping 18,183 cases were filed against firms violating the Companies Act between Jan 1, 2008, and March 31, 2009, the government said Monday. Further, a total of 238 companies were identified as having "vanished" after cheating the public and siphoning off funds garnered by subscriptions to initial public offers (IPOs), said Corporate Affairs Minister Salman Khurshid in a written reply to the Rajya Sabha.

July 23rd, 2009 NEW DELHI - Minority Affairs Minister Salman Khurshid Thursday told parliament his ministry has a mechanism to regularly monitor the progress in implementation of various development schemes for the minorities undertaken by the government. "Review of progress of implementation of the schemes is done through periodic review meetings and through the memorandum of understanding between the Ministry of Minority Affairs and the National Minorities Development and Finance Corporation," Khurshid said in the Lok Sabha.

July 13th, 2009 NEW DELHI - Minority Affairs Minister Salman Khurshid Monday told parliament that the government is committed to establishing an Equal Opportunity Commission and is examining the recommendations of the expert group regarding its structure and functions. "An Equal Opportunity Commission will be set up by the government.

July 13th, 2009 NEW DELHI - Corporate Affairs Minister Salman Khurshid Monday said the existing Companies Act did not empower the government to ask the private sector for providing minorities with jobs. "Despite this, the government has started the process of developing a common perspective on the issue of voluntary affirmative action by the corporate sector," Khurshid said in a written reply to Rajya Sabha.

July 13th, 2009 NEW DELHI - The government has increased the budgetary allocation to the minority affairs ministry by Rs.740 crore for the year 2009-10 to address the educational and economic backwardness of the Muslim community, Minister Salman Khurshid said Monday. "The plan provisions for the ministry has been enhanced from Rs.130.89 crore in 2006-07 to Rs.500 crore in 2007-08, Rs.1,000 crore in 2008-09 and Rs.1,740 crore for the year 2009-10, Khurshid told the Rajya Sabha in a written reply.

July 13th, 2009 NEW DELHI - Minority Affairs Minister Salman Khurshid Monday said the home ministry had issued guidelines to address communal issues. "Guidelines on communal harmony have been issued by the ministry of home affairs, Khurshid told the Rajya Sabha while replying to a question related to the steps taken by the government to address the socio-political issues of the minority community.

July 4th, 2009 NEW DELHI - Corporate Affairs Minister Salman Khurshid Saturday said he was not in favour of mandatory reservation in the private sector, maintaining that the government's thrust on inclusive growth will comprehensively address the larger issue of affirmative action. "Empowering and capacity building is the answer and not reservations," Khurshid told reporters on the margins of a conference organised by the Confederation of Indian Industry (CII) here.

June 11th, 2009 NEW DELHI - Minister of State for Minority Affairs Salman Khurshid Thursday said the government was considering giving constitutional status to the National Minorities Commission and would decide on reservation for Muslims after studying the Andhra Pradesh and Kerala models. We want to give the minorities commission a constitutional status and will try our best for that, Khurshid told reporters after a meeting with the commission members.

May 29th, 2009 NEW DELHI - The Satyam fraud case is top priority of the government, and the investigating agency, the Serious Fraud Investigation Office (SFIO), has been asked to put the prosecution on fast track, Minister of State for Corporate Affairs (independent charge) Salman Khurshid said here Friday. "The case is required to be put on the fast track so that the guilty can be punished quickly," Khurshid said after taking charge.

January 18th, 2009 NEW DELHI - Sirajuddin Qureshi, a well known businessman and national leader of the Quresh community defeated Congress leader Salman Khurshid to retain the presidency of the city's India Islamic Cultural Centre (IICC) here Monday. Qureshi polled 988 votes while Khurshid received 489 votes in an election that was held amid allegations of communalism.

January 16th, 2009 NEW DELHI - It was 'very obvious' that Congress general secretary Rahul Gandhi would be India's prime minister one day, but for now Manmohan Singh remained the prime ministerial candidate, party leader Salman Khurshid has said. In a wide-ranging interview here, Khurshid also said that Muslims were leaning towards the Congress in Uttar Pradesh but would vote for it only if they felt it was in a position to win, and so an electoral tie-up was needed with the Samajwadi Party ahead of the Lok Sabha polls.