Irani mum on tiering of cos

Committee for mandatory consolidation of accounts and strengthening of RoCs

Setting its sights firmly on improving corporate governance and freeing the entrepreneur from legal rigmarole, the JJ Irani Commitee on Company Law has proposed a clutch of measures to speed up incorporation and liquidation of companies. It has also mooted steps to minimise government intervention in management of companies.

To safeguard minority shareholders’ interests, the panel has brought in additional elements of accountability and liability of independent directors, besides unburdening auditors from promoters’ undue influence.

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