02 November 2008

The government is above the law - Corporate Governance in public sector

A first of its kind SEBI (Securities and Exchange Board of India) order against GAIL India (a listed government controlled company registered under the Indian Companies Act 1956 as a government company) was passed on the 27th Oct 08. It relates to applicability of corporate governance norms to public sector companies. Please see my blog at livemint.com discussing this issue here.

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