Updated on Saturday, July 04, 2009, 19:01 IST

New Delhi, July 04: The government on Saturday said that a new companies bill to be introduced in the country will be clearer about the role and accountability of independent directors on the board of companies.

The role of independent directors had come under much scrutiny after the Satyam debacle.

"It (new Companies Bill) will be more objective, it will give a balanced approach to both the role of independent directors and their accountability. The attempt is to make it more unambiguous and explicit," Corporate Affairs Minister Salman Khurshid said at a function organised by CII here.

The new bill, he said, is looking at the entire structure of responsibility of independent directors on the board of companies.

Besides, the bill aims at protecting the independent directors so that they are not accused of the things they have not done.

"We are reassuring people (independent directors) that we are concerned and we will respond to their concerns if they are accused of doing what they are not doing," Khurshid said.

Reservation in pvt sector no answer for the future: Khurshid

New Delhi: The government on Saturday said that creating more jobs, not reservation, is needed for the uplift of weaker sections of society.

"I am not a great votary of reservation. I don't believe reservation is the answer for the future," Minority Affairs Minister Salman Khurshid said here at a function organised by industry body Confederation of Indian Industry.

The minister, who is also holding the charge of the Corporate Affairs Ministry, said that empowerment and capacity building are the answers and not reservation.

The previous UPA government had asked the private sector to go for affirmative action in giving jobs to weaker sections as part of corporate social responsibility (CSR).

Khurshid pointed out that the country can achieve equality effectively with affirmative action as it is a more smooth process, is accommodative and goes farther than reservations.

Bureau Report