This refers to the report "Companies Bill passed" (August 9). The mother of all reforms in the corporate sector - giving shareholders the rights to access minutes of board meetings - should have been incorporated in the new Bill. Shareholders should have such a right, to keep a check on mismanagement since this reform is vitally linked to investor-protection measures. Board meetings can also be brought under the Right To Information Act. There should also be more democracy in running of the companies. and a cap on the number of terms a shareholder can hold as chairman or the managing director. Apart from promoters, other shareholders should also get an opportunity to run the company. As far as corporate social responsibility is concerned, companies should be more innovative.
Deendayal M Lulla Mumbai
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