Compliance with the requirements of Corporate Governance as laid down in the Companies Act is looked into by the Registrars of Companies and suitable action is initiated wherever there is failure to comply with the law. Giving this information in written reply to a question in the Rajya Sabha today, Shri Sachin Pilot, Minister of Corporate Affairs, said that the Government has not brought out any Legal Compliance Manual; however, the Indian Institute of Corporate Affairs, as part of its MOU with an agency, had facilitated the release of a ready reckoner for acquainting stakeholders with various laws including Companies Act, 1956.
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