Skip to content 
Search

Latest Stories

Separate law needed for small, medium companies: Chidambaram

Former Finance clergyman P Chidambaram proposed a separate law to deal with small and medium institutions, expressing compacts of all magnitudes cannot be led by same institutions law.

"Eventually, we must have a separate law for small and medium institutions and have a comprehensive institutions Act only for large institutions," Chidambaram expressed while acting in a communication on the institutions (Amendment) Bill, 2017 in the Rajya Sabha.


The legislation, moved by clergyman of State for Corporate affairs P P Chaudhary, was later passed by a sound poll.

Chidambaram expressed the Bill had righteous goals to merit the medium and small institutions but increases given to such institutions under this legislation will be relevant to big institutions as well since there was only one institutions Act.

He also desired large transparency and comprehensibility in being the food, expressing many of them have been left "as prescribed" in concepts", which takes energy away from legislature and garments them in the administrator.

"In the orginal Act of 2013, penalties were imposed on late fine...After recommendations of the Standing Committee" the polity has made it as "laying down limits to the Act" thereby energy has been acted to administrator," he expressed and desired that a moment maximum should be inflicted in the Act.

He also disapproved to the condition of acting debts or giving debts to administrator, expressing besides the small and medium institutions, it will registerly to enormous institutions also, which would be unsatisfactory.

Chidambaram also expressed that corporate body in India left much to be desired and it acted 15 years to transport a brand-new law.

"In between, there were various excesses in corporate world. There have been no proper regulation of companies. So, there is much to be desired. Like, many companies do not pay taxes but are part of the Registrar," he expressed.

Vivek Gupta of Trinamool Cong expressed the bill were broken and separation of definite commonsense rule will make cash cleaning simple.

He expressed the polity is following "one size fits all" and is making a solo law while small and medium undertakings act to experience and the institutions correction bill has nothing to codes that content.

Ajay Sancheti (BJP) expressed the Act will help "ease of doing business".

More For You

Bangladesh seeks US deal to shield garment industry from tariffs

Workers are engaged at their sewing stations in a garment factory in Savar, on the outskirts of Dhaka, on April 9, 2025. (Photo by MUNIR UZ ZAMAN/AFP via Getty Images)

Bangladesh seeks US deal to shield garment industry from tariffs

BANGLADESH, the world's second-biggest garment manufacturer, aims to strike a trade deal with the US before Donald Trump's punishing tariffs kick in next week, said the country's top commerce official.

Dhaka is proposing to buy Boeing planes and boost imports of US wheat, cotton and oil in a bid to reduce the trade deficit, which Trump used as the reason for imposing painful levies in his "Liberation Day" announcement.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Bond yields ease following Starmer’s support for Reeves

THE COST of UK government borrowing fell on Thursday, partially reversing the rise seen after Chancellor Rachel Reeves became emotional during Prime Minister’s Questions.

The yield on 10-year government bonds dropped to 4.55 per cent, down from 4.61 per cent the previous day. The pound also recovered slightly to $1.3668 (around £1.00), though it did not regain all its earlier losses.

Keep ReadingShow less
modi-trump-getty
Modi shakes hands with Trump before a meeting at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)
Getty Images

Indian exporters watch closely as Trump says trade deal with India likely

THE US could reach a trade deal with India that would help American companies compete more easily in the Indian market and reduce tariff rates, President Donald Trump said on Tuesday. However, he cast doubt on a similar deal with Japan.

Speaking to reporters on Air Force One, Trump said he believed India was ready to lower trade barriers, potentially paving the way for an agreement that would avoid the 26 per cent tariff rate he had announced on April 2 and paused until July 9.

Keep ReadingShow less
Kolhapuri sandal sales surge in India post Prada controversy

Customers shop for 'Kolhapuri' sandals, an Indian ethnic footwear, at a store in New Delhi, India, June 27, 2025. REUTERS/Adnan Abidi

Kolhapuri sandal sales surge in India post Prada controversy

INDIAN footwear sellers and artisans are tapping into nationalist pride stoked by the Prada 'sandal scandal' in a bid to boost sales of ethnic slippers with history dating back to the 12th century, raising hopes of reviving a struggling craft.

Sales are surging over the past week for the 'Kolhapuri' sandals that have garnered global attention after Prada sparked a controversy by showcasing similar designs in Milan, without initially crediting the footwear's origins.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Economy grew 0.7 per cent in Q1 2025, fastest in a year

THE UK economy expanded at its fastest pace in a year during the first quarter of 2025, driven by a rise in home purchases ahead of a tax deadline and higher manufacturing output before the introduction of new US import tariffs.

Gross domestic product rose by 0.7 per cent in the January-to-March period, the Office for National Statistics (ONS) said, confirming its earlier estimate. This was the strongest quarterly growth since the first quarter of 2024.

Keep ReadingShow less