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Wednesday, Dec 11, 2002

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Companies Bill passed in LS

Our Bureau

NEW DELHI, Dec. 10.

THE Lok Sabha on Tuesday passed the Companies (Amendment) Bill, 2001.

With this, the Department of Company Affairs (DCA) has moved a step forward with its proposal to set up a national company law tribunal (NCLT) and national company law appellate tribunal (NCLAT) to take over the functions of the Company Law Board, the BIFR and the AAIFR.

Co-op Bill: The Lok Sabha also passed the legislation, which would enable co-operatives to transform themselves into companies and enable them to compete with other enterprises on an equal footing.

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