Send Companies Bill to Standing Committee Again: BJP

New Delhi
Send Companies Bill to Standing Committee Again: BJP
Government and BJP today agreed on issues related to Pensions Fund Regulatory Development Authority Bill and Companies Bill but the opposition suggested that since the draft of the latter has been altered considerably it should be sent back to the Standing Committee.

When Finance Minister Pranab Mukherjee reached out to the principal opposition this morning saying he wanted to discuss some important issues, the BJP thought the government wanted to discuss the Lokpal Bill.

However, Mukherjee informed BJP leaders L K Advani, Sushma Swaraj, Arun Jaitley and Yashwant Sinha that he wanted their party's support for the PFRDA and Companies Bill. The Left parties are opposed to the proposed legislations.

On the Companies Bill, government conceded to BJP's demand for allowing Limited Liability Partnership (LLP) which would enable a group comprising only of professionals from one category like Chartered Accountants, or Company Secretaries, etc. To form their own company.

However, the Companies Bill which was sent to the Standing Committee earlier has been altered considerably by the government and the draft which has been presented in the Lok Sabha is virtually a new Bill, according to BJP sources.

Hence the main opposition suggested that this should be sent to the Standing Committee for discussion. Mukherjee heard the BJP on this matter but did not make any commitment.

Companies Bill was listed for passage today in the Lower House but the government did not move it.

PFRDA Bill will be moved for passage in Lok Sabha on December 21 after BJP's demands were accepted by Mukherjee. (MORE)

Sources said government agreed to the BJP demand for inclusion of Assured Returns to retired employees in PFRDA Bill. The Standing Committee on Finance, headed by Sinha, had made this recommendation.

The government also agreed to BJP's demand for defining the quantum of FDI in PFRDA in the Act itself instead of bringing it through an Executive decision. The BJP had made it clear that it will oppose the Bill if this provision is not included.

TMC, which is a part of the ruling UPA coalition, reportedly has certain reservations about these two Bills but had said recently it will not do anything which would topple the government.

The Left parties have indicated that they will oppose the Bill.
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