The Lok Sabha on Wednesday approved a new bill that would make amendments to the Companies Act, 2013, with an aim of improving â€œease of doing businessâ€ in India.
There is no formulaic approach to answering this question. But, from an investors' perspective, single promoters pose a bigger risk
The government proposed rotation of auditors with retrospective effect, in its draft rules for the new Companies Act. CNBC-TV18's Payaswini Upadhyay reports that the ministry, which put out draft rules to accompany 16 of the 29 chapters in the Act, call for changes in accounting and auditors.
The new Companies Bill has received President's assent, which will make it into a law replacing the nearly six-decade old regulations that govern corporates in the country.
The new Companies Bill has certain provisions like faster registration through fully electronic MCA-21 and allowing firms to hold meetings through e-governance mode, that would "facilitate ease of doing business in India", the Parliament was informed today.
The number of defunct companies in the country rose by nearly 34 per cent to 2.35 lakh in the year 2012, the Parliament was informed today. In 2010, the number of defunct companies stood at 1.75 lakh.
India ratified its first major overhaul of company law in more than 50 years on Thursday, seeking to strengthen accounting standards and shareholder rights in a country where many businesses are family-controlled.
The best thing about the new Companies Act is that it is simple, with greater clarity of intent and purpose. It replaces the old law with over 700 conflicting clauses with something shorter and sweeter: 470 clauses and all of it in 309 pages. Not bad for something that will govern all listed and unlisted companies in the country.
While most experts are hailing the Rajya Sabha passing the Companies Bill, they have concerns over drafting the Bill's nuances and the timeframe in which it will be brought out.
The much-awaited Companies Bill aimed at protecting the interest of employees and small investors and introduced in the Rajya Sabha on Wednesday, amid much din was passed on Thursday.
The much-awaited Companies Bill, which aims at protecting the interest of employees and small investors, was introduced in the Rajya Sabha today amid din.
The suggestion has been made by the Corporate Affairs Ministry amid rising instance of private placement being misused by various entities for raising of funds from public.
BJP leader Yashwant Sinha clarified that the government is attempting a completely new approach on GST and the House panel‘s report on the Bill should be presented in Monsoon Session of Parliament.
The finance and commerce Minister have sorted their differences on the conflicting definition of foreign direct investment (FDI) in the regulation and the proposed Companies Bill and Sebi regulations.
CNBC-TV18's economic policy editor Siddharth Zarabi reports that the law ministry has cleared a crucial amendment that will allow greater flexibility for investments via put-and-call options and boost investor sentiment.
The financial sector is a critical component of the Indian economy. Effective reforms are required to ensure that this remains competitive and attractive for investors from across the world.
Provisions for class action suits in the new Companies Bill is a step forward. But hurdles remain in its implementation.
By: Sunil Kothari, Deloitte Haskins & Sells
Rajendra Sisodia, author and co-founder of the Conscious Capitalism Institute tells CNBC-TV18 about the new way of looking at capitalism. The idea of creating shared value for all stakeholders involved and not necessarily only the pursuit of profit has been a topic of discussion for some time now.
The Companies Bill, 2012 will change how large audit firms work. Audit firm rotation after two consecutive terms of five years each, prohibition on providing non-audit services to an audit client, class action suits against auditors.
The Companies Bill, 2012 will change how large audit firms work.
On January 14, The Chamber of Tax Consultants had organized a lecture meeting on The Companies Bill, 2012. Bharat Vasani, Group General Counsel of the Tata Group gave a presentation on the changes proposed in the bill and its implications on how companies function in India.
The New Year has begun with an optimistic note on the corporate governance (CG) front. In December 2012, the Lok Sabha passed the long awaited Companies Bill, and on 4th January 2013, Sebi issued a consultative paper on revising CG norms.
The Companies Bill, 2012 passed by the Lok Sabha on December 18, 2012
Sanjay Grover, central council member ICSI and Preeti Malhotra chairman of the Assocham committee on CSR explain to CNBC-TV18's Siddharth Zarabi that the new rules in the Companies Bill