Thursday, December 15

The Companies Bill 2011 - Introduction ( Download Draft )

Companies Bill, 2011, if approved by both houses of Parliament, IT WOULD REPLACE 55 YEARS OLD - THE COMPANIES BILL, 1956.

Main Glimpse of the bill-

1. 2% yearly spend on CSR activities
2. Fix term for independent directors.
3. Private Companies member maximum limit will be enhanced to 1000 members.
4. The one-person company.
5. Class-action suits.
6. Easier to start and shut companies.
7. Change of auditor in every 5 years.

Note: All these glimpse are subject to approval of both houses of parliament and then president. Not any or some point may get disapproved.

By Team CA helpers

Speak your mind