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Our Bureau

New Delhi, July 2 The Cabinet on Thursday approved the re-introduction of the Companies Bill, 2008, as Companies Bill, 2009. The Bill aims to revise and modify the Companies Act, 1956 in consonance with the changes in the national and international economy.

The need to re-introduce the Bill, which was already introduced in the earlier Lok Sabha, arose as Parliament was dissolved before the Bill could be considered.

Sources told Business Line that the Government has decided to re-introduce the Companies Bill 2008 as the Companies Bill 2009, without any changes, as the provisions of the Bill are broadly considered to be suitable for addressing the various contemporary issues relating to corporate governance including those which have been recently noticed during the investigation into the affairs of some of the companies.

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