New companies law: A job half done

In an act years - perhaps decades - overdue, Parliament has finally given its assent to a new companies law. On Thursday, the Bill was approved by the Rajya Sabha; once it receives the president's assent and is notified, it will replace the legislation in force currently, which dates from 1956. That law had been amended dozens of times - 25, to be precise - but still had a hard time keeping up with a post-liberalisation economy.

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