The Union Cabinet will soon consider the Companies Bill for approval, the Union Law Minister, Mr Salman Khurshid, has said.
"It (Bill) has come to a final shape. It will come to Cabinet soon,” Mr Khurshid told Business Line here after the launch of 'Corporate Knowledge Foundation', a new body that would strive to be a knowledge companion for Corporate India.
He said that the administrative ministry concerned had moved a Cabinet note in this regard. India has been looking to enact a new company law for more than a decade now. The earlier attempts over the past 10 years had met with little success. The existing Companies Act was enacted in the year 1956.