Latest update on companies bill 2012 passage in rajya sabha

Companies bill 2012 has been in the list of business of Rajya sabha for the past few days.. The problem is that there is nothing happening in rajya sabha at all because of continuous opposition... It is getting adjourned without being productive !... 

Season of Rajysabha is adojurned by few member due to wrong statment produced by Defence Minister in last working  day of rajy sabha....Now we have to wait for next siting of todays season of rajysabha for any further update.......

Rajya sabha will resume at 3:00pm today again lets hope for the best that it continue to be i session...

Congrats Friend ........histrorical Movment for all Proffessionals .........Rajysabha passed the Companies Bill-2012 today..............Filling Great thanx to Mr. pilot 

The much-awaited Companies Bill was passed in the Rajya Sabha on Thursday. The new Bill will replace the nearly six-decade old regulations that govern corporates in the country.

The Companies Bill 2012 envisages a slew of changes to rules governing the functioning as well as social responsibilities of corporates. The new legislation would replace the Companies Act, 1956.

Spending towards Corporate Social Responsibility (CSR) activities, more responsibility on independent directors and setting up of National Financial Reporting Authority (NFRA), are among the major features of the new legislation.

With the new legislation, India would possibly become the first country to have Corporate Social Responsibility (CSR) spending through a statutory provision.

As per the proposal, companies have to shell out two per cent of their three-year average profit towards CSR activities and in case they are unable to spend the money, they have to provide explanations.