Maruti Suzuki and Hyundai Motor India on Monday reported a dip in passenger vehicle dispatches to dealers in the domestic market last month as the companies tried to adjust vehicle inventory amid slowing demand. Maruti Suzuki India said it "calibrated supplies" to the dealers, aligning with the industry's retail sales projections amid India-Pakistan conflict and a dip in sales of entry-level cars.
The government on Friday approved the draft of a new Companies Bill to incorporate far-reaching changes, including scrapping the minimum paid-up capital requirement and setting up special courts to try offences.
The Companies Bill 2009, which will replace a half-a-century old Act, is expected to be brought before Parliament for consideration and passage in the ongoing Budget session.
The Companies Bill, 2008, which lapsed with the dissolution of the 14th Lok Sabha, was reintroduced by the corporate affairs minister Salman Khurshid in the Lower House amid din. Besides other things, the new Bill will be shorter and will try to harmonise the company law framework with sectoral regulations.
The Bill, aimed at improving corporate governance, also contains provisions to strengthen regulations for companies and auditing firms.
There are inconsistencies and doubtful provisions in Companies Bill.
Corporate Affairs Minister Prem Chand Gupta on Monday said the government will introduce the new Companies bill this week, which seeks to replace Companies Act, 1956.
Companies Bill, 2008, once approved by Parliament, will replace the existing Companies Act, which was enacted in 1956. The Bill was introduced by Minister of Corporate Affairs Prem Chand Gupta in the Lower House amid objections raised by CPI-M member Varkala Radhakrishnan.
Parliament's standing committee on finance, headed by Bharatiya Janata Party leader Yashwant Sinha, on Thursday finalised its report on the Companies Bill, 2011.
PE firms are looking at various ways to protect their nominee directors.
Looking to better serve the interests of all stakeholders, the government on Thursday approved amendments to Companies Bill 2011, including changes related to spending on CSR activities.
The government is seeking to replace the 52-year-old Companies Act 1956 with new legislation, a bill for which was introduced in the Rajya Sabha in October. The proposed legislation is primarily aimed at updating corporate laws and reducing state control over the affairs of companies.
The new Companies Bill, which was first introduced in the Lok Sabha in 2008, seeks to give a fillip to the cause of corporate social responsibility and corporate governance.
The government on Tuesday excuded confidence that the new Company Law, which promises greater shareholder democracy and stricter corporate governance norms, will be enacted by the end of this fiscal.
A new law gives more teeth to the shareholder and empowers him to take legal action against a company for fraud.
The draft Companies Bill 2008 has identified the three key managerial positions as chief executive officer, chief finance officer and company secretary. By recognising these three key managerial positions, the Bill is fixing responsibility to bring out a system which is more accountable, transparent and workable, according to an official at the Ministry of Corporate Affairs.
The class action suit, a handy weapon for small investors seeking relief from errant corporations, will soon be available in India.
If implemented, the measure would have choked the availability of funds for real estate firms and infrastructure companies, which typically have several layered subsidiaries.
The move, which comes at a time when the stock market regulator, the Securities and Exchange Board of India, has overhauled takeover rules for listed companies, will allow acquisitions to be carried out in a smooth manner.
The new Companies Bill, which is likely to be tabled in the Winter Session of Parliament, will contain provisions to rule out a recurrence of the Satyam episode which shattered the confidence of India Inc, Minister of State for Corporate Affairs Salman Khurshid said on Thursday.
CII opposed some provisions, especially on the proposed move to the new definition of a subsidiary, and that a subsidiary cannot have another subsidiary, in the Companies Bill, saying that it will stunt growth in the corporate sector.
It makes it mandatory for companies to spend on social welfare and seeks to bring in greater transparency.
Parliament Tuesday approved the Companies (Amendment) Bill, 2002 with Rajya Sabha returning it after Finance Minister Jaswant Singh assured that a comprehensive legislation on the subject would be introduced in the budget session of the Parliament.
The Competition Bill, 2002 and the Companies (Second) Amendment Bill, 2002, passed during the winter session of Parliament, have received presidential assent and become Acts.\n\n\n\n
Parliament on Tuesday gave its approval to a Bill seeking to provide cable TV subscribers with a minimum number of free-to-air channels at a reasonable cost while empowering the government to install addressable systems for viewing pay channels.\n\n\n\n
The Companies Bill 2009, which seeks to replace a half-a-century-old Act, will be presented in Parliament in the ongoing Budget session, Finance Minister Pranab Mukherjee said on Monday.
House Panel loses opportunity to correct anomalies.
Industry experts feel strengthening the regulatory regime through the proposed laws is the first step towards a modern corporate law.
According to proposed norms, companies will need to spend at least 2 per cent of net profit on corporate social responsibility-related activities.
India Inc has started lobbying with the government to compensate them by giving tax incentives on the funds spent on CSR.
Terming the nearly Rs 10,000 crore (Rs 100 billion) scam in Satyam Computers as an aberration, the government on Thursday said the proposed new Companies Bill provides more stringent provisions to avoid such frauds in the future.
If the new Companies Bill becomes law, 10 of the 30 Sensex companies will have to look for new auditors.
Currently, the ministry has not set any limit for the tenure of independent directors.
In the Companies Bill, the Ministry stipulates that no company can appoint or re-appoint an individual or a firm as auditor for more than five consecutive years.
The Bill proposes introduce the concept of class action suits for the first time in India, which would empower investors to sue a company for 'oppression and mismanagement' and claim damages.
.jpg)
The Companies Bill asked for promoting gender diversity by specifying induction of a minimum number of women directors
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances