Revised cos bill will be tabled in budget session: Deora

Corporate Affairs Minister Murli Deora will meet the industry representatives on February 17 to finalise the revised draft of the Companies Bill. Deora added that his priority would be to ensure enactment of the new company law in the budget session of parliament.

Deora said, "The bill has already been exhaustively discussed by stake holders and by the parliamentary standing committee on finance. The ministry intends to introduce the revised bill in the ensuing budget session of the parliament." The minister also said that IFRS will commence on April 1 and tax issues with respect to IFRS will be taken by Finance Ministry. The next IFRS consultation will be on April 17, informed the minister. "The holding companies would be required to attach accounts of subsidiary," he disclosed adding,