Home / Knowledge / News / New Company Law Bill to be introduced in ensuing Budget Session
New Company Law Bill to be introduced in ensuing Budget Session
18
Feb '08
The draft of the new Company Law Bill is being given final touches and will be introduced in the ensuing Budget Session of Parliament, Mr. Prem Chand Gupta, Union Minister for Corporate Affairs, announced.

Addressing the plenary session of FICCI's 80th AGM on 'The Corporate Affairs of India: The Way Forward', the Minister said: “The new law will promote shareholders' democracy, replace the 'approval based system' with a system of responsible disclosures, promote good corporate governance and effective protection of investors.

Mr. Gupta said, the law would be administered by the Competition Commission of India (CCI). “ In order to address the various issues that came up during the litigation against the proposed CCI, the law has been amended and now we are in the process of operationalising the CCI at the earliest.”

The Minister sought to set at rest concerns of the trade and industry over 'combination regulation'. “I have discussed these issues with my officers in the Ministry as well as officers of the CCI and found that most of the apprehensions to be the outcome of incomplete and inadequate appreciation of the law and the fear of the unknown,” he said, adding that there appears to be a presumption that the provisions of the law are going to be implemented with a negative mindset.

In this context, Mr. Gupta said he had advised his officers to address the genuine concerns of all the stakeholders through regulations, which should be framed through a transparent and wide consultative process.


Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search