Parliamentary Debates Parliament of India Friday 28th September 1951 Part II - Proceedings other than Questions and Answers Official Report

Usually it is left to the initiative of the managing director or the Chairman te say that Certain matters shall be referred to the Board, or the Committee them- selves refer certain matters to the Board. [...] If it feels that some direction should be issued to the Executive Committee, the first part of this clause ensures that the Board has the power to issue the necessary directions and that really is inherent in this plan. [...] The minutes of every meeting of the Executive Committee shall be laid before the Board at the next meeting of the Board. [...] The word 'approval' would really have both the powers, the power of dis- approval and the power of modifica- tion Shri C. D. Deshmukh: Approving the minutes is taken to be equivalent by the hon. [...] Shri C. D. Deshmukh: In regard to the amendment proposed, I think that it is necessary that there should be the touchstone of the public market on the loans which are guaranteed by the Corporation.