Damodaran panel on biz climate to meet

The government-appointed panel, headed by former Sebi chief M Damodaran, to suggest ways for improving business environment will hold its first meeting tomorrow.

Eminent industrialists including Anand Mahindra and Kumar Mangalam Birla are part of the 21-member panel, which was announced by the Corporate Affairs Ministry in August.

Speaking at the Economic Editors' Conference here today, Corporate Affairs Minister Veerappa Moily said the Damodaran panel would be meeting tomorrow.

"We have taken serious note of the reported procedural bottlenecks, jurisdictional overlaps and systematic inertia coming in the way of Ease of Doing Business," he said.

According to him, the panel has been appointed to address the issue in a larger perspective and to suggest measures to be taken by different ministries and agencies to a provide friendly enabling environment for initiating and smooth conduct of business by entities both from this country and abroad.

The committee, headed by former Securities and Exchange Board of India (Sebi) chairman M Damodaran, would prepare a detailed report and submit it to the Corporate Affairs Ministry.

Apart from Mahindra Group Chairman Anand Mahindra and Aditya Birla Group Chairman Kumar Mangalam Birla, other panel members include ITC Chairman Y C Deveshwar, Tata Sons Director Ishaant Hussain and Teri Vice-Chairman R K Pachauri.

There would also be representatives from Sebi, Reserve Bank of India (RBI) and the Ministries of Corporate Affairs, Finance, Power, Petroleum, Highways, Commerce and Industry and Urban Development.

ALSO READ

Punjab National Bank Q4 net profit down over 20% at Rs 1,131 cr

Supreme Court nod for Cairn-Vedanta deal

IndiGo to charge a premium for preferential seats

Novartis appoints Citigroup as broker for Indian entity share sale