Posted by: CS Shilpi Thapar
Finally after 56 years, The Companies Act,1956 will be replaced by new Companies Bill, 2011. Companies Bill,2011 is passed in Loksabha today . All amendments to the Bills was adopted. Passing of Bill is really a great initiative towards implementing Strong Corporate Governance. It will be placed in the Rajya Sabha now. Let’s hope it becomes an act very soon.
Clauses of Companies Bill,2011 require very clear understanding of all corporate players and professionals to guide their clients properly. So it’s time to relearn.
I will shortly post my analysis on significant clauses of Companies Bill,2011.