UPDATE: on 30th August 2013: Companies Bill 2012 became the Companies Act, 2013 (Act 18 of 2013).
For every new law, legislative intent, which show it in debates taken place in Parliament, become important. These debates offer a guide while drafting subordinate legislation. There are many questions about future rules and regulations. I, here, compiled some important quotes from this debates from Rajya Sabha.[i][ii][iii]
Posted in Companies Act 2013, CorpGov, CSR, Governance and Responsibility, Truth of Our Time
Tagged Auditor, Chartered Accountants, class-action suits, Companies Act 2013, Companies Bill 2012, CorpLaw, Corporate Law, Corporate Social Responsibility, CSR, Director, Ganguly Committee, Independent Director, India, Legal Reforms, Ministry of corporate affairs, Rajya Sabha, Reforms
This is customary that Parliament take a break in budget session. This generates public anger in this time when we have active judiciary and inactive legislature.
On 22nd March 2013, I mailed to a group of company secretaries:
“Rajya Sabha adjourned till 22nd of April 2013. My glass is full of air and bubbles.”
The minister of corporate affairs Mr. Veerappa Moily on 12th December 2011 moved 3 bills namely; the Chartered Accountants (Amendment) Bill, 2010, the Cost and Works Accountants (Amendment) Bill, 2010 and the Company Secretaries (Amendment) Bill, 2010
These bills were to amend sub-section (2) of Section 2 of three Acts namely the Chartered Accountant Act, 1949, the Cost and Works Accountants Act, 1959 and the Company Secretaries Act, 1980.
Posted in Company Secretary, Institute of Company Secretaries of India - ICSI, Truth of Our Time
Tagged Act, Amendment, Bill, Black Money, Chartered Accountants, Company, Company Secretaries, corruption, Cost Accountants, Cost and Works Accountants, Democracy, ICSI, India, India against corruption, Indian Companies Act, Limited Liability Partnership, Ministry of corporate affairs, Parliament, Profession, Professional, Rajya Sabha, Service Sector, Surrogate Firms, Whistle blower
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AishMGhrana 