| In the light of several reforms that were introduced by the Government in various corporate legislative bills, the Corporate Laws Committee undertook a number of significant initiatives. Top priority was given to the professional challenges and opportunities and also to improve upon the professional independence, excellence and integrity. As a measure of self-discipline and regulation, the Committee forwarded a Note to the Department of Company Affairs on suggestions relating to disqualification of auditors as contained in Section 226 3(e) of the Companies Act 1956. The Interaction with the Department of Company Affairs was pro active and the Committee made a presentation on the Bills relating to insolvency and winding up on companies before the said Department and the Parliamentary Standing Committee. Suggestions were also submitted to the Department of Company Affairs on the relaxation in managerial remuneration. The Committee also conducted Training Programmes for the official of the said Department in four regions. Seminiars, All India Residential Course and Conferences were conducted during the year to educate and interact with the members at large. Study groups on various matters of professional interest were also constituted. The year 2001-02 was by and large active and a historical milestone for the Committee in pursuance of its significant initiatives. | | | |
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