MCA Invites Comments from General Public on the Report of the Damodaran Committee

The Ministry of Corporate Affairs has invited comments from the general public on the Report of the Committee for Reforming the Regulatory Environment for Doing Business in India (generally referred to as the Report of the Damodaran Committee). The copy of the Report is available on the website of the Ministry of Corporate Affairs. Comments are invited till 31st October 2013. The comments can be sent to Smt. Kamna Sharma (Assistant Director, MCA) on Email:kamna.sharma@mca.gov.in

Damodaran Committee was set up in August 2012 by the Ministry under the Chairmanship of Shri M. Damodaran for Reforming the Regulatory Environment for Doing Business in India. The proximate cause of the establishment of the Committee was the World Bamk’s Doing Business Report which ranked India amongst the countries ranked at the bottom of various sub-indices. The Committee submitted its Report last month. The Committee has made a number of recommendations that can be classified as: legal reforms, regulatory architecture, boosting efficacy of regulatory process, enabling MSME’s, and addressing State level issues.

The recommendations of the Committee and the time frame for implementation are under consideration of the Ministry of Corporate Affairs.