Financial Daily from THE HINDU group of publications
Thursday, Sep 12, 2002
Financial Daily from THE HINDU group of publications Thursday, Sep 12, 2002 |
|
|
|
|
|
Corporate
-
Regulatory Bodies & Rulings ICWAI central council may have addl Govt nominee Richa Mishra
NEW DELHI, Sept. 11 THE Department of Company Affairs (DCA) is contemplating a change in the Central Council of The Institute of Cost and Works Accountants of India (ICWAI) so as to increase the number of its official nominees in the council. The increase would come at the cost of a non-official nominee by the Government, sources said. ``At present, there is just one Government official nominee on the board of the council and three non-official Government nominees. The Department is considering reducing the strength of non-official nominees and increasing the Government official nominees to two,'' sources told Business Line. DCA is empowered to appoint four Government nominees on the board (one official and three non-official). ``However, no decision has been taken as to who will be the nominee and which of the non-official nominee will be dropped,'' sources said. The three non-official Government nominees on the board are Mr Vijay Kumar Jhalani, Ms Deepa Gupta, and Mr Chander Wadhwa. Sources said that the DCA's current move was aimed at ensuring proper functioning of the institute and also provide a framework that would require enhanced participation of the Government nominees in the working of the council. It was observed by DCA that many a times Government could not be represented in certain important meetings due to the absence of adequate number of official Government nominees. It may be recalled that the department had restored some of the financial powers that had been taken away from the council of the ICWAI. However, the department has still retained the powers of monitoring the travel expenses of the council members though the three-member committee, which was constituted to look after the specific financial issues of the institute.
Send this article to Friends by E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|