Financial Daily from THE HINDU group of publications
Wednesday, Jul 21, 2004

Cross Currency

Group Sites

Corporate - Company Law

Expert group set up to review Cos Act

Our Bureau

New Delhi , July 20

AN expert group has been set up to examine the rationalisation of penalties and the provisions for compounding in the Companies Act, 1956, and to suggest penalties corresponding to the gravity of offences. The Minister of Company Affairs (MCA), Mr Prem Chand Gupta, gave the information to the Rajya Sabha on Tuesday. The Minister said the final report of the group is yet to be received by the Government.

Revamping Companies Act

The Government is preparing a concept paper for a comprehensive overhaul of the Companies Act, 1956 to upgrade it , delete obsolete provisions and to make it easy to interpret. Mr Gupta said that the concept paper would be widely disseminated soliciting opinions of various stakeholders, professionals and investors. At this stage, however, it may not be possible to commit a firm timeframe for the introduction of legislation based on the exercise proposed, he added.

More Stories on : Company Law

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
M&M to steer into South Africa

Avesthagen gets marketing rights for Finnish co's product
Sudhakar Plastic launches new range of pipes, fittings
Century to fill Priyamvada's chair later
Kirloskar Brothers to supply pumps to Africa
Essar Constructions bags TN pipeline contract
What Priyamvada's will says
Birla Corp board meet passes off smoothly
Drama outside Birla Corp board room
Experts feel `unjust' removal of auditors can be challenged
Lodhas likely to seek court direction to check Birlas
BPCL completes loan syndication
Lack of clarity on executive default law irks corporates
Expert group set up to review Cos Act
Jindal Stainless makes $32-m buy in Indonesia
Marico may buy out partner's stake in Kaya Skin Care
Jay Bharat plans facility for Maruti's new model
IMFA Group's expansion likely next year
Alkem Labs to foray into food processing
Grasim aims 20% rise in textile exports post-MFA regime
Haldia Petro posts maiden profit
Ministry team set to submit findings on Daewoo India
Ashok Shinkar is Pearl Organics Director

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line