Bajaj, in black and white

If there is one law on which India's corporate leaders are united in their opposition, it is the Black Money Act. Though most have been cautiously critical, Bajaj Group Chairman Rahul Bajaj has been, true to form, openly scathing about the law, and he did not pull any punches at the The Economist seminar last week either. Asked about the Act, he said though he had no sympathy for those who generated black money, he had doubts about the success of the one-time compliance window. The three-month compliance period was too short and should be extended to December-end, he suggested. His comments clearly struck a chord with other corporate chiefs present, because they all nodded in agreement.