Nirmala Sitharaman
Minister of Corporate Affairs
Ministry of Corporate Affairs
A Wing, Shastri Bhawan
Rajendra Prasad Road
New Delhi – 110001
Dear Nirmala Sitharaman,
Subject: Urgent Need to Address Corruption and Data Privacy Violations in the Ministry of Corporate Affairs
I hope this letter finds you in good health and high spirits. I am writing to you as a concerned citizen to bring to your immediate attention a series of alarming and unethical practices currently plaguing the Ministry of Corporate Affairs (MCA). These practices not only undermine public trust but also pose a severe threat to the integrity of our corporate governance system and the privacy of individuals involved in corporate activities.
Recent investigations and reports have uncovered a mass level fraud involving the illicit sale of directors’ data post-company registration by top officials within the MCA, including the Secretary, Director General of Corporate Affairs, Regional Directors, and Registrars of Companies. This data is being sold to private banks such as ICICI, Axis Bank, and IDFC Bank, as well as various private entities, without the consent of the individuals involved. These banks and entities are then exploiting this information to aggressively market their services, pressuring directors to open bank accounts and purchase other services.
The sale of this sensitive data represents a gross violation of privacy and a flagrant abuse of power by those entrusted with upholding the principles of corporate governance and data protection. The MCA’s actions signify a blatant disregard for the privacy rights of the directors and a severe breach of trust. Such activities not only erode public confidence in the Ministry but also highlight the urgent need for stringent data protection measures and accountability within the MCA.
Furthermore, the involvement of high-ranking officials in this scandal suggests a deep-rooted culture of corruption that requires immediate and decisive action. The complicity of private sector banks and other entities in this fraud exacerbates the situation, demonstrating a widespread disregard for ethical standards across both public and private sectors.
In light of these serious allegations, I respectfully urge you to take the following actions:
- Immediate Investigation: Launch a thorough and transparent investigation into the sale of directors’ data by MCA officials, ensuring that all individuals involved are held accountable for their actions.
- Strengthening Data Protection Laws: Review and strengthen India’s data protection laws to prevent such breaches in the future, ensuring that sensitive information is safeguarded and that privacy rights are upheld.
- Transparency and Accountability: Implement stricter oversight mechanisms within the MCA to promote transparency and accountability, ensuring that officials adhere to the highest ethical standards.
- Public Assurance: Provide a public assurance that the privacy of individuals involved in corporate activities will be respected and protected, restoring trust in the Ministry and its operations.
The integrity of our corporate governance system and the protection of individual privacy are cornerstones of a healthy and functioning democracy. I urge you to act swiftly and decisively to address these issues and ensure that the Ministry of Corporate Affairs operates in a manner that upholds these fundamental principles.
Thank you for your attention to this critical matter. I look forward to your prompt and positive response.
Yours sincerely,
Nitin Naresh
Editor
Inventiva Business Magazine.
