Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: TDS :: VAT RATES :: form 3cd :: due date for vat payment :: articles on VAT and GST in India :: VAT Audit :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: cpt
« News Headlines »
 Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution-Chapter XII-EB of the Income-tax Act, 1961- reg.
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout

New Company Law Bill to be introduced in budget session
February, 19th 2008
It will promote shareholders democracy: Prem Chand Gupta

The new Company Law Bill, undergoing finishing touches, will be introduced in the budget session of Parliament, Corporate Affairs Minister Prem Chand Gupta said here on Saturday.

Addressing the plenary session on The corporate affairs of India: The way forward at the Federation of Indian Chambers of Commerce and Industrys (FICCI) annual general meeting, Mr. Gupta 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.

The judicial aspect 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, he said.

Allaying the trade and industrys concerns over combination regulation, Mr. Gupta said: 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 happen to be the outcome of incomplete and inadequate appreciation of the law and fear of the unknown based on an apparent presumption that the provisions of the law are going to be implemented with a negative mindset.

The Minister said he had advised the Ministry officials to address the genuine concerns of all stakeholders through regulations, which should be framed through a transparent and wide consultative process. He asked the corporates to look at these regulations with an open and positive mind as no law can be evaluated on the presumption of lack of good faith and that too, before it is actually implemented.

Mr. Gupta said a major problem relating to corporate functioning was the slow liquidation process. Today, it took 10 years on an average for a company to be liquidated. In this process, the worth of the assets get eroded. The issue was now being addressed in the new law, with the approach based on the general principles adopted by the U.N. Commission on International Trade Law.

The Minister said an important aspect of the competition law related to protection of the consumers interests. In our zeal and enthusiasm for immediate gains, we should not ignore the fact that for long-term and sustainable prosperity our trade and industry is very much dependent on the welfare of the consumers.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions