09 August 2010

Public companies don't need to comply with the law

As discussed by this blog, the 25% public float will be known for being flouted, particularly by the public sector. Today the Mint says that the official policy is to exempt PSUs from the 25% law already passed. It is not clear whether the public sector will be exempted by a change in the law or whether they will (it is actually the government) flout the law a la corporate governance norms.

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