The Parliamentary Standing Committee is expected to “return” the long-awaited Companies Bill, 2011, within a month after a limited review.
Mr Veerappa Moily, Corporate Affairs Minister, said that the UPA Government might place it in Budget Session of Parliament for eventual passage of the Bill.
It was referred to the Standing Committee in December after the BJP pressed for a fresh scrutiny before it being placed in Parliament. The Standing Committee, headed by the former Finance Minister, Mr Yashwant Sinha, had given its recommendations on the Companies Bill, 2009. Of the 170 recommendations made by the Standing Committee, the Government has accepted 162.
Speaking at a meeting organised by FICCI here on Monday, Mr Moily said the complete introduction of IFRS would be achieved latest by 2015. He said the Government hopes to ready the Competition Policy by March, but the National Corporate Governance Policy would take another six months.
The Minister said these initiatives would be part of the “second generation of economic reforms”.