The Financial Express -- Expressions

Expressions

This page contains Editorial and Op-Ed articles

Saturday, May 3 1997

Letters to the Editor

Financial reporting: The myth of transparency Corporate financial reporting in India has remained internationally incompatible largely because the corporates did not bother about harmonisation of accounting policies and disclosures. Rather, they prefer to keep domestic disclosures at a modest level and when they go abroad to raise funds they flaunt statements that disclose financial information as per the requirements of the United States or other developed countries.		Infrastructure Bond Issue
Royalty on Horlicks: entirely unwarranted The recent decision of SmithKline Beecham Healthcare Ltd to pay 5% royalty on all the products sold under the brand name of Horlicks and other restructuring exercises undertaken by it has raised several issues. The royalty has been paid from September 1996. It would seem that the royalty is not for a specific/limited period but will be payable till such time as products are sold under the Horlicks brand name.	Keeping a handful is fine, but... The notion that businesses are becoming increasingly complex and dynamic is perhaps indisputable. Not surprising then that the czar of big business, Bhupendra Kumar Modi, decided to relinquish the post of Managing Director recently in all his group companies. He has instead delegated authority to his professionals to take care of the day-to-day functioning of his group outfits.

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