CORPORATE WATCH
FUND DIVERSION BY UTILITIES HURTING CONSUMERS, SHAREHOLDERS
GOVERNMENT HELPLESS AS CORPORATES FLEECE
2009-08-21 11:48
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Should a power utility company, which is given special treatment by both the central and state government in terms of tariff fixation, taxation, credit availability, guaranteed return, etc., be allowed to divert funds to non-core businesses? Is it right to allow petroleum and natural gas companies, which also receive a host of financial incentives, including guaranteed return, from the government, to invest their shareholders' fund in non-related non-core activities?