Sunday, December 20, 1998
Centre plans bill to impound ill-gotten wealth in bid to weed out corruption
The union government is working on a bill to allow confiscation of wealth amassed by public servants through illegal means to curb corruption in high places. A draft bill for this was being prepared in consultation with the Law Commission.The bill would cover even "benami" transactions and property owned by "friends and relatives,".
Think global, Chidambaram tells CAs
Former Union finance minister P Chidambaram exhorted the chartered accountants to globalise and adopt international accountancy standards. He urged every chartered accountant to take a vow that the inventiveness of human mind will be applied so that in future even India can set the standards.
Centre sets up panel to review Article 356
The centre yesterday constituted a five-member committee of the inter-state council headed by defence minister George Fernandes to give a final shape to safeguards against arbitrary imposition of president's rule as many states favoured retention of Article 356.
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