<h1>India's Companies Bill 2011: Modernizes Corporate Regulation with CSR Mandates, Stricter Fraud Penalties, and Auditor Reforms.</h1> The Companies Bill, 2011, recently passed by the Lok Sabha, aims to modernize corporate regulation in India, replacing the outdated Companies Act, 1956. Key features include mandatory corporate social responsibility spending, stricter penalties for corporate fraud, enhanced auditing provisions, and interest rate alignment on inter-corporate loans with government securities. The Bill also addresses auditor liability, allows for certain dual roles in company leadership, and mandates auditor rotation and ratification. It clarifies terms like 'private placement' and adjusts director retirement calculations. The Central Government's power to resolve implementation difficulties is extended to five years post-enactment.