Companies Bill will Replace the Companies Act in India

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It appears that Companies Bill is going to see light of the day and these words are from none other than Prime Minister of India.

Companies law will update corporate law and promote corporate social responsibility (CSR) and replace the Companies Act 1956. It will provide a fillip to the cause of corporate social responsibility (CSR) and corporate governance and investor protection.

The Standing Committee of Finance, headed by senior BJP leader Yashwant Sinha, is likely to finalise its report on the Companies Bill on 20 April 2012.

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