Multiple choice

For which one of the following reasons is an amendment in Companies Bill 2009 proposed?

  1. To provide more powers to Department of Company Affairs.

  2. To provide regulatory powers to Department of Company Affairs.

  3. To make Indian Accounting Standards applicable with effect from 1.4.2011.

  4. To ensure smooth convergence of the Indian Accounting Standards with IFRS.

  5. None of these
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D Correct answer
Explanation

The Companies Bill 2009 proposed amendments primarily to ensure smooth convergence of Indian Accounting Standards with International Financial Reporting Standards (IFRS). This was part of India's commitment to global accounting harmonization. The other options are incorrect - the bill was not about powers to the Department of Company Affairs or just about implementing date changes.

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