Chandra heads yet another panel

NEW DELHI: The government on Tuesday constituted another committee under former cabinet secretary and ambassador to the US Naresh Chandra to liberalise the Companies Act for small and private firms while tightening the regulation to ensure compliance by big and public companies.
The new committee has been asked to suggest liberalisation of the Companies Act and the Partnership Act to make these laws hassle free for small and medium firms and private limited companies.The nine-member committee has been asked to submit its first report on small and medium companies within 45 days and the final report within 90 days.
DCA secretary VK Dhall said: "The main purpose of this committee would be to suggest a scientific and rational regulatory environment while at the same time providing adequate flexibility to companies in reducing compliance cost."