Fin Min turns down proposal on info disclosure by firms

Finance Minister Arun Jaitley has turned down Union minister Maneka Gandhi's proposal to make mandatory provisions for private firms to disclose details about committee on sexual harassment at workplace in their annual reports, citing the views of companies that it would add an "extra burden" on them.
"Stakeholders and companies have represented against enhanced disclosures under the Companies Act, 2013 and adding further to these may not be desirable," Jaitley said in a letter to the Women and Child Development Ministry.
Gandhi, who heads Women and Child Development Ministry, had requested the Finance and Corporate Affairs Ministry in earlier this year to make mandatory under the Companies Act, for employers to give information about constitution of Internal Complaints Committee (ICC) in their offices at the time of filing annual returns.

In her reply, Gandhi however said, she differs with the view that this would add any extra pressure on the companies.
"I would beg to differ with the view that mandating this would add any burden on the companies as the only information required to be disclosed in the Board/Director's Report is that the companies have actually constituted the ICC," she said.
Gandhi has requested Jaitley to reconsider the matter and mandate disclosure on constitution of the ICC under the Companies Act, 2013.