Companies Bill may be cleared in Budget session: Veerappa Moily

Corporate Affairs Minister Veerappa Moily today said the Companies Bill is expected to be cleared in the forthcoming Budget Session despite its withdrawl after being tabled in the winter session.

"Yes, it is likely to be tabled in the Budget session of Parliament," Moily said when asked about the Bill on the sidelines of a seminar organised by Srei Foundation.

The Companies Bill was presented in the Lok Sabha in the Winter Session to replace the existing Companies Act of 1956. It was immediately withdrawn following differences between the Congress and the opposition BJP.

The Parliamentary Standing Committee on Finance is likely to meet this month to sort out the differences on the Bill.

The minister is also hopeful of the passage of the Pension Fund Regulatory and Development Authority Bill, 2011 in the Budget session.

Moily said differences over the Pension Fund Regulatory and Development Authority Bill with its ally Trinamool Congress and main opposition party Bharatiya Janata Party were likely to be resolved.

"There are some misapprehensions (about the Pension Bill) which is not true and I think if properly understood, I think everybody will agree," Moily said.

He said he was hopeful of the Pension Bill "coming through" in the budget session of Parliament. (Economic Times)