Tuesday, March 12, 2013

Companies Act 1956 and Company Bill 2011

Companies Act 1956 and Company Bill 2011
In comparison to companies’act1956, the new Bill which is known as the company Bill 2011 has 470 clauses and 7 schedules with the aim of achieving economic growth of country and recognized the corporate responsibility etc. Further some provisions like several corporate governance and disclosure norms are included in the Bill to avoid recurrence of corporate scandals such as the alleged accounting fraud by the promoters of the erstwhile Satyam Computer in 2009.
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