Expressing hope that the Companies Bill, 2009, will be passed by Parliament in 2011 itself, Corporate Affairs Minister Veerappa Moily Tuesday said his ministry was ready with the Cabinet note for the legislation.
Coinciding with International Women`s Day, the Corporate Affairs Ministry Tuesday said it would make it mandatory for companies having five or more independent directors to have at least one female independent director.
Corporate Affairs Minister Salman Khurshid Thursday said the directive of the Supreme Court on a curative petition on the Bhopal gas tragedy will have to be "factored in" within the proposed Companies Bill .
Taking lessons from Satyam
episode, the government is looking at making provisions in the
Companies Bill for compensating aggrieved retail investors
fighting class action suits against fraud-hit companies.
The govt has decided to include the Serious Fraud Investigation Office (SFIO) in the new Companies Bill 2009 to arm it with legal and statutory powers to probe corporate misdoings, Corporate Affairs Minister Salman Khurshid said.
The government on Monday re-introduced
Companies Bill in the Lok Sabha to replace a 52-year-old law
and simplify regulations dealing with formation, mergers and
acquisitions and winding up of companies.