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The Concept Paper on Company Law released on August 2, 2004 has received encouraging response from various organizations, expert bodies and industry associations. Now these are being analysed. Intensive consultations are also going on between the Ministry of Company Affairs and industry associations and professional. bodies. The exercise has been undertaken to enable the Government develop a revised and compact legal framework for the corporate sector to address the challenges it faces in view of the present national and international economic scenario. Its main objective is to ensure good corporate governance with fair participation of all stakeholders, self-regulation with transparency and accountability and provide greater flexibility in rule-making to enable timely response to the evolving business models.
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