New Delhi: Rejecting the contention that the Opposition was obstructing passage of the Companies Bill, BJP leader Yashwant Sinha said the government came up with a new version of the legislation which would be re-examined by the Parliamentary Standing Committee at its meeting on January 24.
Sinha argued that the Bill which was placed in the Lok Sabha for consideration and passage was completely different from the original one that was referred to the Standing Committee for scrutiny.
"The Companies Bill (which was placed in Lok Sabha for consideration) is a totally new bill. So we told the Government it should come back to the Standing Committee. Finally, they saw the weight of our argument and have referred it again," Sinha told PTI.
The Committee, he added, would reconsider the new version of the Companies Bill at its meeting on January 24. The new legislation seeks to replace the half-a-century old Companies Act, 1956, and modernise corporate practices in line with developments taking place across the globe.
Sinha also termed as "unfortunate" Corporate Affairs Minister Veerappa Moily's comment on the Opposition's criticism towards the Companies Bill.
Moily had earlier slammed the Opposition for its "obstructionist" policy towards the Bill and said the Centre was determined to pass it in the forthcoming Budget session of Parliament.
The Companies Bill, which enhances accountability, introduces the concept of corporate social responsibility and encourages e-governance, was introduced in the Lok Sabha last month.
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