<h1>Companies Bill 2011: Stricter Disclosure Rules, Accountability Measures for Key Managers, and Independent Directors Defined.</h1> The Minister of State for Corporate Affairs informed the Lok Sabha about the Companies Bill, 2011, which introduces stringent disclosure requirements for companies and their promoters at incorporation and on an ongoing basis. The Bill aims to enhance accountability through provisions related to the appointment and accountability of key managerial personnel, defining the role of independent directors, and imposing stricter penalties. Introduced on December 14, 2011, the Bill was referred to the Parliamentary Standing Committee on Finance following extensive discussions with stakeholders and recommendations from the Expert Committee on Company Law led by Dr. Jamshed J. Irani.