Cos Bill to soon go before Cabinet: Khurshid

The Union Law Minister, Mr Salman Khurshid, today said that the Corporate Affairs Ministry has floated a Cabinet note on the much awaited new Companies Bill. The Union Cabinet will soon consider the Companies Bill for approval, Mr Khurshid told Business Line here. “It (Bill) has come to a final shape. It will come to Cabinet soon,” he said after the launch of ‘Corporate Knowledge Foundation', a new body set up by professionals to be a knowledge companion for Corporate India. India has been looking to enact a new Company law for more than a decade now. The earlier attempts, over the last decade to enact a new Company law had met with little success. The existing Companies Act was enacted in 1956.