Governing System in Corporate Sector

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.