I wish to compliment the honourable minister for having taken the pains, of what I consider to be a historic regulation, to replace the Companies Act, 1956, in view of the altered economic and commercial sacrosances which now face India.I have nine points to make for the minister's consideration.First, I want to make a point that the Parliamentary Standing Committee has recommended, based on the Comptroller and Auditor General (CAG)'s Report, that the board of directors should consider the implications of government directors on the financial position of company. In my view, this is a very important suggestion that the CAG had made and which the Standing Committee has accepted. For instance, in the context of government directors for disinvestment, unless the financial impact of government's directives are really considered by the board of directors, this would be incomplete.My second point really relates to the fact that the Bill provides, that members of the existing Law Board must b

'I support the contents of the Companies Bill'

Business Standard

Reforms Have Moved Beyond Politics

Sir, the first point that I would like to bring to the Finance Minister's notice is a caution that we need to exercise in view of the likely contingent effect of what is happening in the rest of the world. I think he is sagacious enough to move to a path of fiscal consolidation.

N K Singh

N K Singh

N K Singh

'I support the contents of the Companies Bill'

Reforms Have Moved Beyond Politics

'Global confidence is being shaken up once again'