Roadmap to help firms adopt IFRS norms soon

Roadmap to help firms adopt IFRS norms soon

The government will take the concerned regulatory agencies like Sebi and others on board before finalising the roadmap, Corporate Affairs Minister Salman Khurshid told reporters on the sidelines of the conference organised by Indian Chambers of Commerce here. On the new Company Bill 2009, he said the Centre had tabled the best possible bill.

He said the bill has now been referred to the Standing Committee of Parliament and a final shape to it would be given after recommendations from the panel.

Satyam fiasco

On the Satyam fiasco, he said that it was an aberration which had been caused by human affairs and there was nothing supernatural. He said there was need to strengthen the Serious Fraud Investigation Office (SFIO) to prevent recurrence of such cases.

Real estate pool

Meanwhile, Nasscom said the Kolkata government should provide land to IT companies from its real estate pool.

“The government has enough land. It has land in Rajarhat township, but it is meant for real estate. Government has to choose whether it wants employment by offering land to IT companies or just make buildings,” Nasscom Eastern Regional Council Chairman V V R Babusaid at the CEOs Summit here. The West Bengal Government had early this month shelved the IT township project at Rajarhat in North 24 Parganas, where Wipro and Infosys were supposed to set up their units, after allegations of irregularities in allocation of land for the luxury Vedic Village. Nasscom President Som Mittal said IT companies required large space to set up training and infrastructural facilities.