The new companies Bill, pending approval of the Parliamentary standing committee, is expected to be tabled in Parliament by this year-end, corporate affairs secretary R Bandyopadhyay said here today. “The committee will submit its report soon. The corporate affairs ministry will take some time (two-three months to study it) and we are hopeful that we will have a new Act by the year-end,” Bandyopadhyay told reporters on the sidelines of an event here.
Against the backdrop of the Satyam scam, the government geared up to frame a new legislation to address the regulatory loopholes in the existing Companies Act.
“The new Bill will also address several investor concerns, including creating a framework to empower them,” Bandyopadhyay said, adding the ministry is starting an investor awareness scheme under which over 3,000 workshops will be conducted across the country.
