Srinagar: The Registrar of Companies for UTs of J&K & Ladakh offices today organised an event to showcase evolution of Corporate Sector under ‘Azadi Ka Amrut Mahotsav’ campaign commemorating 75 years of independence of progressive India at both of its offices located in the capital cities of Srinagar and Jammu.
Speaking on the occasion, Astt ROC cum official Liquidator & Incharge Kashmir Office, Haamid Bukhari talked in detail about the evolution of Corporate culture since Independence in the country and how over the period of time different body corporate contributed in the growth & generation of wealth.
He showcased the importance of different Government policies and legislatures that had been brought depending on the need of the times, chronology wise and highlighted the importance of the Private sector that plays a pivotal role in the generation of wealth in the country.
The focus of the discussion was primarily the process through which doing Business has been eased in India because of which our rankings in different reports have improved significantly in the past 2-3 years.
Bukhari also talked about the Limited liability partnership Eco System that has been revitalized with the decriminalization of minor defaults and purposefully it is being done so that unincorporated businesses should shift to the Incorporated and registered ones to achieve the target of 5 Trillion USD Economy.
Carrying forward the festivities in the event, the legal trainees appointed at the Srinagar office Nauman Zargar, Iqra Mir and Fabiha Wani presented the chronology of events that have taken place and has profound impact on the corporate Governance in the country.
Nauman discussed the Gandhian philosophy behind the concept of Corporate Social Responsibility under Section 135 of the companies act, 2013 and the impact it can create in transforming the lives of different strata of people. He also talked about the National CSR Awards that has been started by the Union Ministry of Corporate Affairs.
Fabiha Wani & Iqra Mir talked at length about the Insolvency and Bankruptcy Code (IBC Code) that is not just game-changer legislation but has significantly contributed to placing India among the good ranks in the Ease of Doing Business.
Raj Koul concluded the event with his vote of thanks and discussed the Investor Education and Protection of funds.
It is pertinent to mention that RoC’s mandate is the enforcement of different central legislations like Companies Act, 2013 and LLP act 2008.
