‘Companies Bill to boost corporate sector’
The corporate sector will get a boost once the newly drafted Companies Bill 2011 is brought to effect in 2012, said Minister for Corporate Affairs M Veerappa Moily.
The corporate sector will get a boost once the newly drafted Companies Bill 2011 is brought to effect in 2012, said Minister for Corporate Affairs M Veerappa Moily.
Speaking at the foundation-stone laying ceremony for the new office of Institute of Company Secretaries of India here on Saturday, Moily said he expected the proposed legislation to be passed in the next budget session.
“The ministry has included 25 new amendments which will help in tackling major issues affecting the growth of corporate sector in India. The new bill also has provisions to safeguarding the interests of investors and bring transparency,” said Moily.
He said the Ministry would prepare a clear map and propose a plan detailing the future of investments in India. Moily promised the Institute to provide assistance for resource training in the sector.
On Team Anna’s demand for the anti-corruption Bill, he said it is not a common practice to include outsiders in the process of drafting a bill.
He said the Parliament has, however, acted differently in the case of Hazare and incorporated his team’s views before drafting the Lokpal Bill. Moily said: “Now, the Bill is with the Parliament and Hazare should leave it to us.”
