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Bangalore, Aug. 8 The Union Minister for Corporate Affairs, Mr Prem Chand Gupta, inaugurated the new office complex of the Ministry of Corporate Affairs at Bangalore on Thursday.

‘Corporate Bhawan’, situated on Mahatma Gandhi Road in the city’s central business district, is a 27,000-sq-ft complex where the offices of the National Company Law Tribunal and the Official Liquidator would be located.

“We want to give a new look to the Ministry of Corporate Affairs, to convey to the corporate sector that the government would provide them a level-playing field, create an atmosphere of oneness, corporate freedom and flexibility,” the Minister said.

“The Ministry is planning to renovate all our offices. Lands have been acquired at Chandigarh, Jaipur and Cuttack for building our own premises,” he added.

On the new Companies Bill that the Ministry hopes would be passed in the forthcoming session of the Parliament, Mr Gupta said that the new Bill would ensure more flexibility for corporates, and that emphasis is being given to self-regulation. “The redundant provisions of the old Act would not be there. We want to give corporates a free hand to regulate themselves,” he added.

The Ministry is also operationalising the Competition Commission of India, which will effectively check the cartelisation and other anti-competition business practices so as to ensure that consumers get goods and services at reasonable prices.

The Minister said that the Ministry’s e-governance project, MCA-21, has now made it possible for companies to register online from the comfort of a home or office.

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