Bhubaneswar Stock Exchange limited Chairman GC Nanda said the new Companies Act, 2013 would ensure better corporate governance and more corporate social responsibility (CSR) activities.
He was inaugurating an ICSI-Bhubaneswar Chapter seminar on “Companies Bill-2012” and addressing a gathering of about 300 participants here on Sunday.
It is a growth-oriented law. It would protect small investors’ interests. It has introduced the concept of one-person company. The new Act would open opportunities for Company Secretaries.
Chairman of Bhubaneswar Chapter of the ICSI (Institute of Company Seretaries of India) Arabinda Acharya while giving introduction of the theme of the seminar said the vew Companies Act would create opportunities and challenges for Company Secretaries. It is a forwardlooking law, which would facilitate corporates to manage their affairs in a more transparent way.
The Act ensures mandatory CSR activities requiring companies to spend 2 per cent of their profit annually. The Act provides for opportunities of women directors on the Board. Eminent speakers from New Delhi, Mumbai and Kolkata addressed the technical sessions.