The Hindu : National : Companies Bill in budget session: Gupta

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Sunday, Jan 28, 2007
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National

National

Companies Bill in budget session: Gupta

J. Venkatesan

New Delhi: The Companies Bill and the Competition Bill would be introduced in Parliament in the second half of the Budget Session, announced Prem Chand Gupta, Minister for Company Affairs, while inaugurating a national seminar on `Limited Liability Partnership (LLP)' organised by the Institute of Company Secretaries of India (ICSI) here on Saturday.

The Minister also informed that an Institute of Corporate Affairs with world-class facilities was being set up by the Ministry to better serve the corporate sector. The LLP Law seeks to achieve the fusion of technical and professional expertise coupled with financial risk bearing capacity, said Jitesh Khosla, Joint Secretary, Ministry of Company Affairs. Earlier, the newly elected president of the ICSI, Preeti Malhotra in her presidential address said that the new business model would be a milestone in providing the professions in India a fillip to take on the challenges posed by the globalisation of professional services. It would help professionals to set up multi-disciplinary firms, developing in due course mega firms of Indian professionals, to capitalise on opportunities in WTO environment.

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