MYSORE: Union Minister of Corporate Affairs and former chief minister M Veerappa Moily cautioned that if the BJP did not respond to the Lokayukta report on illegal mining, it would face serious consequences in the coming elections.At an interaction organised by the Mysore District Journalists Association here on Monday, Moily said that Yeddyurappa is not an isolated element and is with a responsible national party.“I am not in a position to speak as the report is not with us, but Lokayukta Justice Santhosh Hegde has the power to give a declaration saying that the CM and his Cabinet ministers who were indicted have to resign.Following this, the competent authority Governor H R Bharadwaj can look into this issue,” he added.On the telephone tapping issue, Moily said that as per the provisions of the Telegraph Act, telephone tapping is prohibited. Justice Hegde is the right person to complain about it to authorities.On leaking of the report, Moily said that Justice Hegde himself admitted that the report was leaked. Hegde is the custodian of the report and he has to face the repercussions, he said.Act for corporate companiesVeerappa Moily said that Corporate Companies should compulsory be given two per cent of the profit and regarding this, necessary provisions will be made in the proposed new Comprehensive Companies Act which is to begin soon.This will enable the country to enjoy the democratic dividend for the remaining 30 years. He also made it clear that if any company cannot be provided with two per cent of its profit, exemption can be given. Stating that companies should not be exploited and at the same time they should be allowed to do business, Moily said that there are 300 backward districts in the country.However, the Union government has plans to take up some specific programs for the improvement of these districts by involving corporate companies under Corporate Social Responsibility (CSR). Already a few companies have come forward to show their commitment towards CSR and a meeting of all the companies will be convened to take a final decision on the issue, he said.On reservation in the corporate sector, he said that it is still being discussed but we can give social justice through CSR. He said that the new Act relating to Serious Fraud Offences (SFO) is to root out corruption.
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