No move to regulate corporate salaries: Govt
The Ministry of Corporate Affairs says there is no move on the part of the government to regulate salaries and other benefits.
By PTI |
NEW DELHI: The Ministry of Corporate Affairs on Monday said there is no move on the part of the government to regulate salaries and other benefits given to directors and chief executives of companies.
"There is no intention on the part of the government to regulate remuneration of directors and top executives of companies," Corporate Affairs Minister Prem Chand Gupta said at a seminar on corporate governance organised by Assocham here.
He said the comments of the Prime Minister Manmohan Singh at an industry function on remuneration of directors and CEOs in the private sector have not been understood properly.
"There is no need to regulate remuneration of directors and CEOs of companies and there is no intention to do so," Gupta said.
He said that the decision on how much salaries top functionaries of the companies get is best left to their Board of Directors and shareholders.
"There is no intention on the part of the government to regulate remuneration of directors and top executives of companies," Corporate Affairs Minister Prem Chand Gupta said at a seminar on corporate governance organised by Assocham here.
He said the comments of the Prime Minister Manmohan Singh at an industry function on remuneration of directors and CEOs in the private sector have not been understood properly.
"There is no need to regulate remuneration of directors and CEOs of companies and there is no intention to do so," Gupta said.
He said that the decision on how much salaries top functionaries of the companies get is best left to their Board of Directors and shareholders.
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