New Companies Act Damns Private Companies  

July 2, 2014

Private companies and smaller firms need don\'t use public money and can do less of regulation. But the new Companies Act has bound them with a lot more rules

SD Israni

Under the Companies Act, 1956, the general principle was that a public company should be subject to greater accountability by way of compliances, disclosures and government approvals, while a private company, most of the times being a small family affair, was subjected to lesser scrutiny.

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