Corpsec Hotline
August 12, 2013
India overhauls its corporate law regime!

The much awaited Companies Bill 2012 ("Bill") has been passed in Rajya Sabha (the upper house) on August 8, 2013, after having been approved by the Lok Sabha (the lower house) on December 18, 2012. This Bill marks a seminal shift in India's corporate regime and aims at repairing and fine tuning the existing lacunae of the Indian Companies Act, 1956 ("Companies Act") by establishing a new benchmark for corporate governance and by introducing new concepts such as one person company, independent directors, etc. Once the Bill receives the presidential assent it shall be effective and shall replace the Companies Act.

For a detailed analysis of the Bill, please refer to our previous hotline through this link.


- cosbill2012.nda(at)nishithdesai.com 
You can direct your queries or comments to the authors

Disclaimer

The contents of this hotline should not be construed as legal opinion. View detailed disclaimer.

This Hotline provides general information existing at the time of preparation. The Hotline is intended as a news update and Nishith Desai Associates neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this Hotline. It is recommended that professional advice be taken based on the specific facts and circumstances. This Hotline does not substitute the need to refer to the original pronouncements.

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Corpsec Hotline

August 12, 2013

India overhauls its corporate law regime!

The much awaited Companies Bill 2012 ("Bill") has been passed in Rajya Sabha (the upper house) on August 8, 2013, after having been approved by the Lok Sabha (the lower house) on December 18, 2012. This Bill marks a seminal shift in India's corporate regime and aims at repairing and fine tuning the existing lacunae of the Indian Companies Act, 1956 ("Companies Act") by establishing a new benchmark for corporate governance and by introducing new concepts such as one person company, independent directors, etc. Once the Bill receives the presidential assent it shall be effective and shall replace the Companies Act.

For a detailed analysis of the Bill, please refer to our previous hotline through this link.


- cosbill2012.nda(at)nishithdesai.com 
You can direct your queries or comments to the authors

Disclaimer

The contents of this hotline should not be construed as legal opinion. View detailed disclaimer.

This Hotline provides general information existing at the time of preparation. The Hotline is intended as a news update and Nishith Desai Associates neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this Hotline. It is recommended that professional advice be taken based on the specific facts and circumstances. This Hotline does not substitute the need to refer to the original pronouncements.

This is not a Spam mail. You have received this mail because you have either requested for it or someone must have suggested your name. Since India has no anti-spamming law, we refer to the US directive, which states that a mail cannot be considered Spam if it contains the sender's contact information, which this mail does. In case this mail doesn't concern you, please unsubscribe from mailing list.

NDA Connect

Connect with us at events, 
conferences and seminars.