Veerappa Moily today assumed charge as India's new Corporate Affairs Minister following ahigh profile Cabinet reshuffle by Prime Minister Manmohan Singh on Tuesday.    

"I am very happy with Prime Minister Manmohan Singh and Congress President Sonia Gandhi. If they have given me this charge they might had something in mind. They know that I am a reformist and wherever I go, I have the reform agenda," Moily, who was shifted from the Law Ministry to the Corporate Affairs Ministry, said.    

Speaking on the 2G scam, he said, "You will have to give me time to understand the issue, but I can say that nothing will be passed without proper examination."

However, Moily's transfer from the law ministry to corporate affairs was being unanimously seen as a setback. He said yesterday that vested interests had maligned his performance. "Vested interests saw to it that the failures of other ministries in Supreme Court were put on the law ministry".