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Corporate Affairs Ministry Unlikely to Heed Calls for Mandatory CSR in Companies Bill

Corporate Affairs Ministry Unlikely to Heed Calls for Mandatory CSR in Companies Bill

NEW DELHI: The Corporate Affairs Ministry is unlikely to yield to pressure from some political parties to make 2 per cent CSR spending mandatory for corporates under the new Companies Bill, which is currently being scrutinised by a parliamentary committee. The MCA is expected to communicate its stand to the Parliamentary Standing Committee on Finance […]

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New Companies Bill may retain contentious provisions

NEW DELHI: The government is likely to retain various contentious provisions in the new Companies Bill, like fixed term for independent directors and rotation of auditors every five years, despite concerns raised by industry In the final draft of Companies Bill 2011, the Corporate Affairs Ministry is learnt to have fixed the term for independent […]

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Parliament panel for clearer roles of independent directors

Says proposed changes are in the best interests of employees NEW DELHI: The Parliamentary Standing Committee on Finance, which has reviewed the Companies Bill 2009, has called for clearly-defined roles and responsibilities of independent directors, along with a standardised process of appointment. The observation came in response to the Ministry of Corporate Affairs’ submissions in […]

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