SME Times News Bureau | 29 Mar, 2010
The government is planning to make it compulsory for companies to upload their balance sheets and other statutory communications on websites so that they can be accessible to shareholders, Corporate Affairs Minister Salman Khurshid said in Kolkata late Saturday.
"We plan to first make it enabling and then may make the requirement mandatory at a later stage after studying how the system is working," Khurshid said at a seminar organised by Bharat Chambers of Commerce.
The minister was responding to a question on how his ministry plans to address grievances of minority shareholders about delays by companies in sending the documents via post.
Talking about the changes to be made in the exit policy, he said it is part of the new law. "It has to be streamlined."
Khurshid said the business atmosphere for foreign companies, who come to India, has to be made such that whenever they want to withdraw "they don't have to carry on for long to exit the country".
