The controversy over Bharat Biotech’s Covaxin deal with the Brazilian government centres on, among other things, payments to offshore “marketing agency”.
Though the deal came to nothing, the practice of promoters routing related-party transactions through offshore shell companies can hardly be construed as good corporate governance. Though tax laws may close such loopholes, the responsibility lies with corporate boards to monitor such transactions, the top edit argues here
In other views:
R Jagannathan explains why the old assumptions on which Indian governments base tax policy should be done away with. Read it here
The second edit says the stock-holding limits on pulses will affect the government’s reform credentials. Read it here
Vandana Gombar assesses the green energy plans of Reliance, NTPC, Tata and Ola. Read it here
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