The Companies Bill 2012 was ratified by the Upper House of the Parliament (Rajya Sabha) on 8 August 2013. The Bill was ratified by the Lower House of the Parliament (Lok Sabha) on 18 December 2012. Once approved by the President, the Bill will be formally promulgated as the Companies Act 2013, replacing the existing Companies Act 1956.
The salient features of the Bill are: business friendly corporate regulations, pro-business initiatives, e-governance initiatives, good corporate go…