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    <title>NEW COMPANY LAW EAGERLY AWAITED</title>
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    <description>The new company law creates a business oriented regulatory framework enhancing corporate governance, managerial accountability, disclosure and investor protection. It sets institutional mechanisms including independent directors with a code of conduct, auditor rotation, a National Financial Reporting Authority for audit and accounting oversight, whistleblower mechanisms, mandatory board CSR committees with prescribed CSR spending obligations, class action remedies, and constitution of a National Company Law Tribunal, with staged commencement by governmental notification.</description>
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