Published on Thu, Sep 05,2013 | 20:58, Updated at Thu, Sep 05 at 20:59Source : Moneycontrol.com | Watch Video :
At the IMC Conference on the Companies Act, 2013, Chief Justice of Bombay High Court, Justice Mohit Shah said that August 2013 marks a historic moment and the beginning of a new era for corporate India He said that the new Companies Act will give this country a modern legislation, which will contribute to the growth and development of the corporate sector in India. "The new law will attempt to meet the requirements of a dynamic economy and facilitate development of a business-friendly environment in India. The new legislation will have far reaching consequences and the changes so brought about will affect various sections including companies both listed and unlisted, shareholders, directors, auditors and other players in the corporate milieu.' The Hon'ble Chief Justice compared the Lawyers to Skin Specialists, saying "Like a skin specialist, the company lawyer till now never had to deal with emergencies and the patient never died on the table. The new Bill takes away these advantages."