Improvement
of Governing System is a continuous process. Ministry of Corporate Affairs is
concerned with administration of Companies Act 2013 and Rules made there under.
The Act and Rules contain essential elements of corporate governance. Since the
provision of the Act are gradually coming into force these reflect the latest
best practices in corporate governance. Wherever difficulties or hardships are
experienced, corrective steps through Circulars, statutory orders and Rules are
being taken to provide ease and facilities to companies.
This
was stated by Smt. Nirmala Sitharaman, MoS in the Ministry of Corporate Affairs
in written reply to a question in the Rajya Sabha today.
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