Thursday, November 13, 2008

'Self-regulation always comes with a strict penal consequence for non-compliance'

Road to global relevance?

The Companies Bill 2008, currently inching its way through the legislation process, has evoked interest among professionals, as during the many earlier occasions. Perhaps, things may pan out differently this time, making our corporate law globally more relevant, even if the route were to be more onerous.
A positive view, that is, and Mr Kaushik Dutta, National leader IFRS practice PricewaterhouseCoopers, seems to agree. "The Bill is futuristic and will greatly be instrumental in bringing in an era of transparency, self-regulation and ease of operation for Indian companies to be relevant as key players in the global economic landscape," says Mr Dutta, during a recent email interaction with Business Line.

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