India proposes a revamp of its company law regime

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On 18 December 2012, the lower house of India’s parliament cleared the Companies Bill 2012, in a significant step towards replacing the more than 50-year-old Companies Act 1956. For the Bill to be formally enacted into law, it is still required to be cleared by the upper house of parliament, where it is expected to be tabled in March 2013, and upon clearance, will be sent to the President of India for formal assent.

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