Things You Must Know About The New Company's Bill 2013

7) Presence of Women Directors: In an attempt to bring gender equilibrium, the Bill has asked companies to have at least one women director on board. In a sample of 89 companies in India, only 7 percent women are included in the board of directors, according to GMI Ratings’ Women on Boards Survey 2013.

Impact: Better representation to women in corporate decision-making.

8) Presence of Separate Tribunal: To deal with and solve disputes like mergers and acquisitions, rehabilitations, closing down, and reduction of shares, a separate tribunal known as National Company Law tribunal has come into the picture.

Also, when a company fails to continue its operations and decides to wind up, it has to pay 2 years salary to the employees.

Impact: More importance on employee rights than on creditors.

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