विज्ञप्तियां उर्दू विज्ञप्तियां फोटो निमंत्रण लेख प्रत्यायन फीडबैक विज्ञप्तियां मंगाएं Search उन्नत खोज
RSS RSS
Quick Search
home Home
Releases Urdu Releases Photos Invitations Features Accreditation Feedback Subscribe Releases Advance Search
home  Printer friendly Page home  Email this page
English Release 27-November 2014
Date Month Year
  • President's Secretariat
  • President of India attends Birth Centenary Celebrations of Chaudhary Ranbir Singh
  • President of India to visit West Bengal, Uttar Pradesh and Odisha from November 28 TO 30
  • Department of Atomic Energy
  • New Atomic Power Plants
  • Administrative Arrangement Agreement with USA
  • Power Generation Through Atomic Energy
  • Thorium Reserves in Country
  • Deposits of Rare Earths
  • Election Commission
  • FACTS AT A GLANCE- JHARKHAND
  • Min for Develop. of North-East Region
  • Role of North Eastern Regional Agricultural Marketing Corporation
  • Min of Agriculture
  • Union Agriculture Minister, Shri Radha Mohan Singh has expresses happiness over establishment of Mahatma Gandhi Central University in Motihari
  • Min of Civil Aviation
  • Tourist Visa on Arrival Enabled with ETA Scheme Launched
  • Min of Coal
  • Production of Coal
  • Quantum & Value of Coal Reserves
  • Setting up of Independent Regulator for Coal Sector
  • Auction of Coal Blocks
  • Sampling of Coal
  • Min of Defence
  • Indian Air Force and Russian Federation Air Force Joint Exercise “Avia Indra I” at AF Stn Halwara Concluded
  • GRSE, Kolkata pays Dividend to the Government of India
  • DGDE Contributes 48.9 lakhs to Prime Minister’s National Relief Fund
  • Min of Earth Science
  • Monitoring of Variability of Weather Phenomena
  • Proposal to Conversion of Sea Water Into Potable Water
  • Mapping of Multi-Hazard Coastal Vulnerability
  • NASA Aircraft for Prediction of Cyclones
  • Ministry of Finance
  • FM Revises the Target of Opening of Bank Accounts under PMJDY to 10 Crore by 26th January, 2015
  • Finance Minister Shri Arun Jaitley Reiterates The Government’s Vision and Commitment for Working Towards Expanding and Deepening Engagements and Relations Between India and China Based on Mutual Complementarities and Common Interests;
  • Min of Health and Family Welfare
  • Health Minister Shri J P Nadda speaks to CM, Kerala on Avian Flu Cases
  • Min of Heavy Ind. & Public Enterprises
  • Protection of Capital Goods Industry
  • Formation of SC/ST Employees’ Welfare Organisation in CPSU
  • Min of Home Affairs
  • MoS (Home) ShriKirenRijiju says the Government is formulating a National Action Plan on Birth and Death Registration
  • Union Home Minister & Tourism Minister launch landmark Tourist Visa on Arrival Enabled with Electronic Travel Authorization Scheme
  • Min of Housing and Urban Poverty Alleviation
  • 16,600 homeless in Delhi; more night shelters to be built
  • Min of Information & Broadcasting
  • Govind Nihalani pays a glowing tribute to the iconic V K Murth
  • Kannada film industry in urgent need of Government financial support and subsidies: P. Sheshadri, Director of Kannada film December –
  • Directors of the Chinese Film ‘Genuine Love’ hope to make films with Indian directors by next year
  • Othello: An Assamese Film Portraying Life as a Perennial River
  • North 24 Kaadham: A Film Full of Optimism
  • The mission of mothers is to see the happiness of their children but we destroy their mission by making war says director Elchin Musaoglu
  • Music Recording comes out of the Shadows
  • Lokmanya Tilak Continues to Inspire Youth at IFFI 2014
  • Min of Micro,Small & Medium Enterprises
  • Strengthening of Khadi and Village Industries Commission
  • Review of financial architecture of MSMEs
  • Special employment through Khadi and Village Industries (KVI) Commission
  • Protection of MSME Sector
  • Entrepreneurship Development Programme in the Country
  • Min of Minority Affairs
  • Multi-Sectoral Development Programme
  • Min of New and Renewable Energy
  • Jawaharlal Nehru National Solar Mission
  • Setting Up of 25 Solar Parks
  • Investment in Renewable Energy Sector
  • Min of Personnel, Public Grievances & Pensions
  • Showcasing of commendable work done during Service
  • Complaint against the CSAT Examination Pattern
  • Disposal of Appeals by CIC
  • Establishment of Jan Lokpal
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket was US$ 76.00 per bbl on 26.11.2014
  • Min of Power
  • Power Pavilion Bags Gold Medal at IITF -2014
  • Steps to Overcome the Shortcomings in Supply of Power
  • Round the Clock Supply of Power
  • Deen Dayal Upadhyaya Gram Jyoti Yojana
  • Ministry of Railways
  • Sreedharan Submits One-Man Committee’s Interim Report to Railway Minister
  • Railways’ Solar Power and Wind Mill Plant
  • Committee on Restructuring of Railways
  • Upgradation of Railways’ E-Ticketing System
  • Railways Launches Automatic Freight Rebate Scheme for Traffic Booked in Empty Flow Directions as a Pilot Project
  • Ongoing Railway Projects in North Eastern Region
  • Provision of Medical First Aid in Trains
  • Min of Road Transport & Highways
  • Current Year Targets 8500 km of National Highways
  • Min of Rural Development
  • There will be no dilution of MGNREGA, Says Birender Singh
  • Safe Drinking Water to all Rural Habitations by 2022-Birender Singh.
  • Min of Science & Technology
  • GDP in Science Research
  • Min of Shipping
  • Government Takes Steps to Increase Coastal Movement of Cargo
  • Government to Expand Capacity of Ports
  • Cochin Shipyard Delivers Nine FPVs to Coast Guard
  • Min of Social Justice & Empowerment
  • Self employment training programme for differently abled persons.
  • Reservation for disabled
  • Granting allocation to NGOs made more transparent
  • Min of Textiles
  • Textiles Minister Inaugurates ‘International Conference on Innovative Ideas, Technologies and Services
  • Online Marketing Platform to Handloom Weavers
  • Memorandum from All India Kisan Sabha
  • Promotion of Handloom Industry
  • Handloom and Powerloom Sectors
  • Min of Urban Development
  • Shri M.Venkaiah Naidu discusses major Delhi developmental issues With LG Shri Najib Jung
  • Ministry of Water Resources
  • Cleaning of Yamuna River
  • Cleaning Of Ganga
  • Groundwater in Rural Areas

Previous Date

 
Ministry of Corporate Affairs19-December, 2012 15:22 IST
Salient Features of the Companies Bill 2011

The Companies Bill, 2011, which was passed by the Lok Sabha yesterday, on its enactment will allow the country to have a modern legislation for growth and regulation of corporate sector in India. The existing statute for regulation of companies in the country, viz. the Companies Act, 1956 had been under consideration for quite long for comprehensive revision in view of the changing economic and commercial environment nationally as well as internationally. In view of various reformatory and contemporary provisions proposed in the Companies Bill, 2011, together with omission of existing unwanted and obsolete compliance requirements, the companies in the country will be able to comply with the requirements of the proposed Companies Act in a better and more effective manner.

The Salient features of the Companies Bill 2011 are as follows:

1. (Amendment in Clause 135): In the Section on Corporate Social Responsibility (Section135), which is being introduced as a statutory provision for the first time, the words ‘make every endeavour to’ have been omitted from its Sub-clause (5). So that the first para of Sub-clause (5) of Clause 135 now reads as follows: “The Board of every company referred to in sub-section (1), shall ensure that the company spends in every financial year, at least two per cent of the average net profits of the company made during the three immediately preceding financial years, in pursuance of its Corporate Social Responsibility Policy.”

Such clause is also amended to provide that the company shall give preference to local areas where it operates, for spending amount earmarked for Corporate Social Responsibility (CSR) activities. The approach to ‘implement or cite reasons for non implementation’ retained.

2. (Amendment in Clause 36): To help in curbing a major source of corporate delinquency, Clause 36 (c) amended, to also include punishment for falsely inducing a person to enter into any agreement with bank or financial institution, with a view to obtaining credit facilities.

3. (Amendment in Clause 143): Provisions relating to audit of Government Companies by Comptroller and Auditor General of India (C&AG) modified to enable C&AG to perform such audit more effectively.

4. (Amendment in Clause 186): Clause 186 amended to provide that the rate of interest on inter corporate loans will be the prevailing rate of interest on dated Government Securities.

5. (Amendment in Clause 144): Provisions relating to restrictions on non audit services modified to provide that such restrictions shall not apply to associate companies and further to provide for transitional period for complying with such provisions.

6. (Amendment in Clause 203): Provisions relating to separation of office of Chairman and Managing Director (MD) modified to allow, in certain cases, a class of companies having multiple business and separate divisional MDs to appoint same person as chairman as well as MD.

7. (Amendments in Clause 147 and 245): Provisions relating to extent of criminal liability of auditors - particularly in case of partners of an audit firm - reviewed to bring clarity. Further, to ensure that the liability in respect of damages paid by auditor, as per the order of the Court, (in case of conviction under Clause 147) is promptly used for payment to affected parties including tax authorities, Central Government has been empowered to specify any statutory body/authority for such purpose.

8. (Amendment in Clause 141): The limit in respect of maximum number of companies in which a person may be appointed as auditor has been proposed as twenty companies.

9. (Amendment in Clause 139): Appointment of auditors for five years shall be subject to ratification by members at every Annual General Meeting.

10. (Amendment in Clause 139): Provisions relating to voluntary rotation of auditing partner (in case of an audit firm) modified to provide that members may rotate the partner ‘at such interval as may be resolved by members’ instead of ‘every year’ proposed in the clause earlier.

11. (Amendment in Clause 2): ‘Whole-time director’ has been included in the definition of the term ‘key managerial personnel’.

12. (Amendment in Clause 42): The term ‘private placement’ has been defined to bring clarity.

13. (Amendment in Clause 61): Approval of the Tribunal shall be required for consolidation and division of share capital only if the voting percentage of shareholders changes consequent on such consolidation.

14. (Amendment in Clause 152): Clarification included in the Bill to provide that ‘Independent Directors’ shall be excluded for the purpose of computing ‘one third of retiring Directors’. This would bring harmonisation between provisions of Clause 149(12) and rotational norms provided in Clause 152.

15. (Amendment in Clause 470): Provisions in respect of removal of difficulty modified to provide that the power to remove difficulties may be exercised by the Central Government up to ‘five years’ (after enactment of the legislation) instead of earlier up to ‘three years’. This is considered necessary to avoid serious hardship and dislocation since many provisions of the Bill involve transition from pre-existing arrangements to new systems.

------------------------


KKP
(Release ID :90936)

Web Ratana This site is winner of Platinum Icon for 'Outstanding Web Content' Web Ratna Award'09 presented in April 2010
Site is designed and hosted by National Informatics Centre (NIC),Information is provided and updated by Press Information Bureau
"A" - Wing, Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi - 110 001 Phone 23389338
Go Top Top

उपयोग संबंधी शर्तें स्वोत्वाधिकार नीति गोपनीयता संबंधी नीति हाइपरलिंकिंग नीति Terms of Use Copyright Policy Privacy Policy Hyperlinking Policy