Naresh Chandra committee report soon

Naresh Chandra committee set up by the government on auditor-management relationship will submit its initial consultation paper by next week said Vinod Dhall, DCA secretary at a Ficci discussion.

He said government had decided to set up a serious fraud office to tackle white-collar frauds which would be a multi-disciplinary body comprising of representatives of regulatory bodies from other sectors like banking, insurance and taxation. However, this would handle only 8-10 very exemplary cases every year, he added. Disinvestment secretary Pradip Baijal said loss of some jobs due to divestment should not be seen as a deterrent in the long term reform process. Earlier Vinay Kohli, secretary, department of chemicals said the ministry had received Planning Commission’s nod on its mega industrial chemical estates project.