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: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Jay Ramrakhiani
Occasions Elegance Wear

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search