(a) whether an expert Committee headed by Dr. J.J. Irani to revise the Companies Act, 1956 has submitted its recommendations to the Government;
(b) if so, the details of the recommendations; and
(c) the schedule laid down for the implementation of these recommendations?
MINISTER OF COMPANY AFFAIRS (SHRI PREM CHAND GUPTA)
(a) Yes Sir. The Expert Committee headed by Dr. J.J. Irani has submitted its recommendations to the Government on 31st May 2005.
(b) & (c) The report submitted by Dr J. J. Irani covered a wide range of issues including registration of companies, management and board governance, investor protection, access to capital, accounts and audit, mergers and acquisitions, investigation, offences & penalties and restructuring & liquidation etc. The report of the Committee is on the website of the Ministry www.dca.nic.in. The recommendations are under examination. Proposals for amendment/revision of the Companies Act, 1956 would be brought up for enactment at the appropriate time.