ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Companies Legislation in India-Plea for a Rational View

Legislation governing companies in India has possibly no parallel anywhere in respect of the frequency of amendments. The statement of objects of the latest Companies Act Amendment Bill refers to changes incorporated in the Companies Act of 1956 by the amending Acts of I960, 1965 and 1969. There have been other amending Acts in 1956, 1963, 1964, 1966, 1967 and 1968. And even before the present amending legislation could complete the legislative circuit, proposals have been mooted for yet another amendment of the Companies Act. Company law administration in India evidently does not have much respect for the basic approach of the Jenkins Committee in UK which had pointed out that it was advisable ''not to disturb longstanding provisions unless they have outlived their usefulness" and that "those who claim that the law should be altered should make out their case".

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