Business Ethics and Corporate Governance, Second Edition

DR J.J. IRANI COMMITTEE REPORT ON COMPANY LAW, 2005

The Government of India constituted an expert committee on company law on 2 December 2004 under the chairmanship of Dr J.J. Irani to make recommendations on (i) responses received from various stakeholders on the concept paper; (ii) issues arising from the revision of the Companies Act, 1956; (iii) bringing about compactness by reducing the size of the Act and removing redundant provisions; (iv) enabling easy and unambiguous interpretation by recasting the provisions of the law; (v) providing greater flexibility in rule making to enable timely response to ever-evolving business models; (vi) protecting the interests of the stakeholders and investors, including small investors; and (vii) any other ...