ASSOCHAM CONFERENCE ON COMPANIES ACT,2013.

New Companies Act  to transform India Inc.
- Will be in tune with the time.

Companies Act,2013, will transform the way Indian Corporate sector operates says,
Dr.Bhaskar Chatterji, Director General,Indian Institute of Corporate Affairs.May be, the new Companies Act,poses several challenges for the government,Industry,auditors,regulators & society in general,it is time that India has a new Companies Act which is in tune with the present day demands as India is a part of integrated world economy.The new law is futuristic,sustainable and gives flexibility to corporate environment.There was a need to have a new companies Act as the earlier Companies Act,1956 was in existence for the last 57 years as the existing Act was ineffective in handling the present 
day's challenges of a growing industry and  the interests of an increasing class of sophisticated stakeholders.