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June 1, 2000
BUDGET 2000 |
Govt unveils amnesty scheme for companiesThe Indian government Thursday launched the Millennium Year Company Law Settlement Scheme 2000, offering one-time amnesty to about 500,000 companies in a bid to create a healthy investment climate in the country. The amnesty scheme, which will be in operation for three months, was inaugurated by Minister of State for Company Affairs O Rajagopal, an official release said. Rajagopal said the scheme was innovative and intended to herald an era of trust, confidence and a healthy partnership between the government and the corporate sector. It would also facilitate working of the corporate sector in a smooth and transparent manner. If successful, the scheme would obviate the need for about 500,000 prosecutions. Company affairs secretary P L Sanjeev Reddy launched the scheme at Bombay. UNI
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