Written by: Press Trust of India
1 min readBangaloreApr 15, 2012 12:58 AM IST
First published on: Apr 15, 2012 at 12:58 AM IST
Union Minister for Corporate Affairs M Veeappa Moily on Saturday said a provision in the proposed Companies Bill would allow a minimum of 10 people to come together and form a company with less rigour of company law and regulations.
He said the Producers Societies provision in the new bill would promote entrepreneurship.
These societies would be loosely knit companies and easy to form in the sense that rigours of company law will be less as also less regulations,he said at a function organised by the Federation of Karnataka Chambers of Commerce and Industry.
I would like to take it producers societies up as a movement, Moily said.
The minister also said India would come out with its own business index within the next six months and would identify deficiencies and address issues of hassles.
Share
