Finally, India considered it important to change this position. The Companies Bill 2011 has been tabled in the Lok Sabha. The proposed Bill has brought significant changes and improvements to the existing corporate legal framework of India.
Another significant and associated development in this regard is happening in the banking sector of India. An integrated modern banking law for India is in pipeline. The parliamentary standing committee on finance has suggested for such integrated law for the banking sector of India.
Even on the fronts of corruption, transparency and accountability, many crucial bills have been introduced in the Lok Sabha. Overall, this seems to be a good effort by India to streamline the corporate environment of India.