Pilot to work for good corporate governance

The new Minister of State for Corporate Affairs Sachin Pilot Monday said he will work with all stakeholders to ensure good corporate governance and assured transparency in all investigations related to companies.

"Good corporate governance is very important for the overall growth of the country. The priority will be to make the MCA as an enabling ministry that works by taking cooperation of all concerned," said Pilot after assuming charge of the ministry.

In Sunday's cabinet reshuffle, Pilot was given independent charge of the corporate affairs ministry. He was minister of state in the communication and information technology (IT) ministry.

Pilot's new assignment will task him to take care of institutions like Registrar of Companies, Serious Fraud Investigation Office (SFIO) and Competition Commission of India (CCI).

His leadership will soon be tested as his ministry is working to bring in a new Companies Bill and amend the Competition Act.

Pilot said investigations into companies would be conducted without bias.

"We need to give the people of India a transparent functioning environment, whether in government, or in corporates. If any wrongdoing comes to the fore, law will take its course," he said.

The minister also said he will help the corporate sector expand to the countryside, rather than remaining concentrated in urban areas.