Companies Bill to come up in budget session: Deora
By IANSTuesday, January 25, 2011
MUMBAI - The Companies Bill, 2009, will be presented for consideration of parliament during its budget session next month, said Corporate Affairs Minister Murli Deora here Tuesday, adding the ministry would also address problems of small investors.
Deora said the ministry would try addressing the problems faced by small investors and independent directors by making suitable provisions in the bill.
Deora chaired the “Small Investors’ Education Conference” organised by the Indian Merchants’ Chamber, Mumbai.
“My ministry will carry out the investor education campaign with renewed vigour, which was expected to go a long way in nation building,” he said.
Deora pointed out that investor education is important for nurturing the investment culture. “This can be done by encouraging active participation of the common man in the corporate economy in India,” he said.
“At present, the small investor’s participation is still very low, in spite of the increasing trend in household savings,” he added.
Deora mentioned that the focus of the new bill was not corporate governance, but good corporate governance.
“It is with this aim, we have set up the National Foundation for Corporate Governance (NFCG) to provide a forum to discuss issues pertaining to good corporate governance and sensitise corporate leaders,” he said.
