THE government is likely to bring out a comprehensive Companies Bill in the forthcoming winter session of Parliament.
Confirming the government’s resolve to introduce the Bill, the Corporate Affairs Minister, Dr Veerappa Moily, said it was likely to be tabled during the upcoming winter session and could become an Act by December 2011.
Speaking at a seminar on corporate governance here, the Minister opined that the existing Companies Act, 1956, was incapable of coping with the changed business environment in the post-liberalisation scenario. "The new Bill will give more clarity in terms of regulations," he averred.
Source : Exim News Service - MUMBAI, Sept. 18