The Financial Express -- Expressions

This page contains Editorial and Op-Ed articles

Friday, July 25 1997

Letters to the Editor

Outsiders on the board beware

It's a rude, wake-up call for non-executive directors. Last week when the Enforcement Directorate slapped show cause notices on the entire board of ITC Ltd during the period 1991-92 and 1993-94 -- as well as on chairman Y C Deweshwar -- its intentions were indeed honourable.

No cause for rejoicing

Though the government has taken the credit for ending the seven-year impasse on the Prasar Bharati legislation, it is doubtful if what it has come up with now can really be called historic, as union information and broadcasting minister S Jaipal Reddy described it.

Peanuts, monkeys and parities

The principles of pay fixation, in the corporate sector and for the civil service are subjects where the heat generated overwhelms the light thrown on the subject. The recent report of the Fifth Central Pay Commission (CPC) (and the attendant disgruntlement which it has generated) brings into sharp focus the principles of pay fixation once again.

Bookbuilding: hit-or-miss

The great petro price con

Could Sec 633 help shield the outsiders?