Companies Bill 2011 - The Act which will change Corporate sector working in big way.

The Companies Bill 2011 has ultimately been presented before Lok sabha on 14^th December 2011 but has been again referred to a standing committee. It is expected that it will get passed in the coming Budget session. The Bill has 470 clauses and 7 schedules as against 658 Sections and 15 schedules in the existing Companies Act, 1956. The entire bill has been divided into 29 chapters. New chapters have been introduced on matters relating to Registered Valuers, Government companies, Companies to furnish information or statistics, National Company Law Tribunal & Appellate Tribunal, Special Courts. The Bill empowers Central Government to make rules, etc. through delegated legislation after having detailed consultative process. The Bill provides for self-regulatory process and stringent compliance regime.