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English Release 27-February 2015
Date Month Year
  • Vice President's Secretariat
  • VICE PRESIDENT RELEASES HINDI TRANSLATION OF BOOKS BY LATE DR. NARENDRA DABHOLKAR
  • AYUSH
  • Panchagavya Therapy
  • Election Commission
  • Bye-elections to the Council of States from various States.
  • Min of Agriculture
  • Sowing Area Under Rabi Rice and Summer Pulses And Oilseeds
  • Online Agri Platforms for Sale of Agri Produce
  • Malpractices in Cooperative Societies
  • Decrease in Crops Sowing Area
  • Dependence on Imported Pulses
  • Infrastructure for Online Trading
  • Fertility of Agricultural Land
  • Setting up of Fish Brood Banks
  • Production of Foodgrains and Fruits in Maharashtra
  • Min of Chemicals and Fertilizers
  • Steps Taken to Keep the Prices of P&K Fertilizers at Reasonable Rates
  • No Proposal for Deregulation of Urea
  • Min of Commerce & Industry
  • 'Make in India' Programme
  • Delhi-Mumbai Industrial Corridor
  • Ease of Doing Business Index
  • Ban on Import of Poultry Products from United States
  • Boost to Leather Sector
  • Min of Comm. & Information Technology
  • TRAI issues draft Tariff Order prescribing framework for commercial interoperability of Customer Premises Equipment (CPE) in DTH services, for consultation.
  • TRAI issues a draft Amendment to the Telecommunication Tariff Order, 1999 for revision of tariff regime for national roaming service for comments of the stakeholders.
  • Min of Consumer Affairs, Food & Public Distribution
  • Recommendations for Restructuring of FCI are Under Consideration of the Government
  • National Food Security Act Implemented in Eleven States
  • Steps to Ensure Better Targeting of Food Subsidies
  • 612.91 Lakh Tons of PDS Foodgrains Allocated to the States During Current Year
  • Rs 16,904 Crore Subsidy Released to the States for Procuring Foodgrains for Central Pool
  • Damage in Central Pools Stocks Brought Down to 0.044%
  • Min of Corporate Affairs
  • National Company Law Tribunal
  • Regulation of Salary
  • Contribution to Political Parties
  • Corporate Frauds
  • Competition Commission of India
  • Min of Culture
  • Government accepts the resignation of Shri Mani Shankar Aiyar from the Chairmanship of Coordination Committee of Zonal Cultural Centres (CCZCC)
  • Min of Defence
  • Indian Navy Concludes Its Annual Exercise
  • Participation of States in Republic Day Celebrations
  • Ex-Servicemen Contributory Health Scheme
  • Setting up of Technology Development Board
  • Transportation of Arms and Ammunitions
  • Aircraft and Helicopter Crashes
  • Shortage of Articles in Army
  • Procurement of Arms and Ammunition
  • Production of Defence Equipment
  • Road Projects of BRO
  • Illegal Entry of Foreign Vessels

  • To be Answered on the 27th February, 2015
  • National Cadet Corps
  • Development of Defence Industries
  • Import of Defence Equipment
  • Veterans Commission
  • Export of Defence Products
  • Submarine Construction Project
  • Purchase of Fighter Aircraft
  • Replacement of Avro Fleet
  • Blacklisting of Companies
  • Min of Earth Science
  • Maldivian Minister Calls on the Minister for Science & Technology and Earh Sciences Dr. Harsh Vardhan to Discuss Issues Relating to Regional Integrated Multi-Hazard Early Warning Systems (Rimes)
  • Ministry of Finance
  • Dr. Kshatrapati Shivaji, IAS(MH:86) Appointed as Chairman and Managing Director, Small Industries Development Bank of India(SIDBI) on Deputation Basis for a period of Three Years
  • ED Investigation on Black Money
  • Recommendations made by the Shome Committee/Tax Administration Refroms Commission
  • Rashtriya Swasthya Bima Yojana; Provides Health Insurance to Unorganized Workers Belonging to BPL Category and their Families
  • Cut in Repo Rate
  • Payment of Dividents from Public Sector Banks
  • Improvement in Female Literacy and Educational Challenges
  • Wiping Every Tear from Every Eye: The Jan Dhan Yojana, Aadhaar and Mobile Numbers Provide the Solution
  • Major Reform Initiatives Undertaken by Government in Banking, Insurance and Financial Sector
  • Economic Survey highlights the need for balance between ‘Make in India’ and ‘Skilling India’
  • A Growth Rate of over 8 Per Cent Expected for the Coming Year
  • Government Remains Committed to Fiscal Consolidation; Economic Survey says Enhanced Revenue Generation is a Priority
  • Infrastructure Growth in terms of Eight Core Industries Higher than Industrial Growth since 2011-12
  • India’s National Solar Mission Being Scaled up Five-Fold to 100,000 Megawatts
  • India needs to create additional Fiscal Space: Economic Survey 2014 – 15
  • Economic Survey Recommends Reform of Railway’s Structure, Commercial Practices, Overhaul of Technology
  • Skill Development and Employment are major Challenges: Economic Survey
  • Economic Survey 2014-15 Highlights
  • The Fourteenth Finance Commission (FFC) will enhance Fiscal Federalism in India: Economic Survey 2014-15
  • Government approves a Rs. 200 crore Central Sector Scheme for implementing e-platform for agri-marketing
  • Hyper-Growth in Tech start ups in India, says Economic Survey on Services Sector
  • Services Sector Clocks Double Digit Growth
  • External Sector is returning to the path of strength and resilience: Economic Survey
  • Inflation shows a declining trend during the year 2014-15 (April-December)
  • Foodgrains production for 2014-15 estimated at 257.07 million tonnes; will exceed average food grain production of last five years by 8.5 million tones
  • From Carbon Subsidy to Carbon Tax: India’s Green Actions
  • Food Subsidy Bill stands at Rs. 107823.75 crore during 2014-15 (upto January, 2015), shows an increase of 20% over previous year
  • Create National Common Market in Agricultural Commodities: Economic Survey 2014-15
  • Revive public investment to improve investment climate: Economic Survey 2014 – 15
  • Min of Health and Family Welfare
  • Medical Facilities in Tribal Areas
  • Mission Indradhanush will Provide Immunization Against 7 Life-Threatening Diseases
  • Steps Taken to Reduce IMR and MMR
  • National Deworming Drive Launched in 11 States
  • Healthcare of Elderly People
  • Health Research
  • AIIMS Like Institutions
  • Essential Drugs
  • Stufies for Assessment of Health and Family Welfare
  • Polio Eradication Programmes
  • National Guidelines for Stem Cell Research and Therapy
  • Evaluation of Accredited Social Health Activists (ASHA)
  • Steps Taken for Prevention and Control of Vector-Borne Diseases
  • Min of Home Affairs
  • Rajnath Singh calls for Promotion of Education with Scientific Temper and Skills
  • Min of Law & Justice
  • Press Communique Related to Appointment of Shri Justice Amitava Roy, Chief Justice of the Orissa High Court as the Judge of the Supreme Court
  • Min of Personnel, Public Grievances & Pensions
  • ACC Appointments
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket was US$ 59.19 per bbl on 26.02.2015
  • Min of Planning
  • The Government to continue the financial assistance to 88 districts for Left Wing Extremism Affected Districts
  • Initiatives to improve the performance in infrastructure sectors
  • Min of Science & Technology
  • National Science Day 2015
  • CSIR Wins International Competition to Set up Wax Deoiling Technology at Numaligarh Refinery of BPCL
  • Min of Women and Child Development
  • 2774 adoptions during April-December, 2014
  • 26.55% reduction in moderately/severely underweight children under ICDS between 2009-10 to 2013-14
  • 887 Lakh rupees released to States/UTs for effective implementation of District Action Plans under BBBP programme
  • An amount of Rs 12727 lakh for Child Care Institutions and Rs 915 lakh for Specialized Adoption Agencies allocated under ICPS during 2014-15
  • Setting up of Special Juvenile Police Units under JJ Act, 2000
  • A sum of Rs. 400 lakhs and a total of 24000 beneficiaries covered under the STEP Scheme till date during 2014-15

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.

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