The corporate form of organization is increasingly emerging as the preferred vehicle for economic and commercial activity and has contributed significantly to the growth of the Indian economy and the emergence of service, information and knowledge-based enterprises. In this backdrop, a comprehensive review of the Companies Act, 1956 and drafting of a new Companies Bill was taken up by the Government on the basis of a detailed consultative process and the Companies Bill, 2009 was introduced in Lok Sabha on 3rd August, 2009.
The new Bill proposes to open up new avenues for the professionals especially Chartered Accountants and at the same time casts a lot of responsibility on them for proficient conduct of the affairs of the companies.
In view of the importance of the Bill, the Institute has finalized its views/suggestions on the Companies Bill 2009 and submitted the same to the Ministry of Corporate Affairs.
