Underlining the importance of sound corporate governance practices, the government on Thursday sought a debate on the compliance norms for small and medium enterprises and family-owned businesses.
"The vast majority of companies that make up the Indian corporate sector comprises of small and family-owned businesses. Therefore, I feel it is necessary to debate what should be the compliance norms for small and medium enterprises," Company Affairs Minister P C Gupta said.
Speaking at a conference '2006 Policy Dialogue on Corporate Governance in India', Gupta said there was a need to inculcate the spirit of voluntary compliance among the Indian corporates.
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