The first set of draft rules for the new companies’ law will be released by the Corporate Affairs Ministry on Monday. These rules, covering 16 chapters, will be posted on the Ministry’s Web site, official sources said.
Registration of charges, accounts of companies, audit and auditors, appointment and qualification of directors, Board meeting, revival and rehabilitation of sick companies, Government companies and National Company Law Tribunal — all will covered under the first set.
Feedback can be submitted to the Ministry until October 8. Forms for the rules will be uploaded separately on September 16.
The second set of rules will be posted in the subsequent week, it is learnt.
The Companies Bill — vetted twice by a Parliamentary Panel — received President Pranab Mukherjee’s assent on August 29 and was notified the next day.
The law , which has replaced the Companies Act 1956, has 470 Sections and seven Schedules.
The rules are significant as the new legislation will be primarily administered through the subordinate legislation.
srivats.kr@thehindu.co.in