The Rajya Sabha on Thursday passed the Companies Bill, which seeks to improve transparency and accountability in the companies, encourages self-regulation and makes contribution of 2% of profits toward corporate social responsibility (CSR) mandatory, among other changes.
The new Companies Bill, which replaces the decades-old Companies Act of 1956, requires President Pranab Mukherjee's assent to become law of the land.
The new Companies Bill, which replaces the decades-old Companies Act of 1956, requires President Pranab Mukherjee's assent to become law of the land.
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