The Ministry of Corporate Affairs will not look into the activities of companies involved in the 2G spectrum scam unless asked to do so, Union Minister of State for Corporate Affairs Salman Khurshid said here on Wednesday.
Speaking to journalists, Mr. Khurshid said the involvement of companies in the 2G spectrum scam was entirely different from the Satyam Computer Services fraud case. They now appeared like business transactions and should, therefore, be handled by the Ministries concerned.
“These are not company law issues entirely. These are the issues that involve many other things that the Ministries concerned have to consider. I can't barge into any other Ministry's mandates and say I will look into it. As far as the Satyam issue is concerned, it was a company law complaint. It was entirely in my area. Therefore, we were able to act on our own,” he said.
On lobbying, Mr. Khurshid said there was nothing in the Companies Act that prohibited it. If there was any suggestion, it could be included. However, he said his Ministry would consult all the Ministries concerned and move forward in this direction.
To a question on the need to have a relook at foreign direct investment (FDI) after the 2G spectrum scam, he said: “We are constantly looking at these issues. Lots of the FDI issues are referred to the Home Ministry before we give our clearance.”
