Companies Bill likely to be placed by winter session

Kolkata, Sep 7 (UNI) The recodified Companies Bill is likely to be placed before the Parliament for approval on the winter session, Company Affairs Minister Prem Chand Gupta said today.

"We hope to introduce the Companies Bill by the winter session and the Bill is likely to be passed in the Budget session of the Parliament," Mr Gupta said in the sidelines of 34th National Convention of Company Secretaries.

The reforms in the Companies Act would help the Indian companies compete in a much better way globally.

Mr Gupta said the Limited Liability Partnership Bill would likely be placed before the Parliament by the Winter Session of Parliament.

The new law would also make the partnerships firms compete globally, he said.

The Minister appealed to the companies to obtain the digital signature certificates and the Directors Identification Cards since e-filing of returns to Registrar of Companies (ROCs) would become compulsory by September 16.

Mr Gupta claimed that with the implementation of MCA-21 e-governance model new companies could be formed within an hour if all the documents were furnished.

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