The centre today said that the Draft Corporate Governance Bill is ready to be put before Cabinet Committee for approval in a day or two. Releasing Legal Compliance Manual (LCM) for Corporate Governance in the country for small and medium enterprises, the Corporate Affairs Minister Mr. Veerappa Moily said that the proposed Bill will be the finest in the world. He said that the government is working on zero tolerance for compliance failure of business laws by the companies. He said that the concept of corporate governance require a constant state of refinement to build a balance between voluntary and mandatory approaches.

The Legal Compliance Manual has been launched to ensure that more companies comply to Central and State laws and follow norms of good Corporate Governance. It will be available on the Indian Institute of Corporate Affairs, IICA website.

Releasing another study on the state of Corporate Governance in India, Dr. Moily said that he will send the research work to the Adi Godrej Committee on National Corporate Governance Policy for study and possible incorporation.