New Delhi, Sep 13 (KNN) The Companies Act 2013 is investment-friendly and would allow freedom to small investors like craftsman and villagers to get credit facility by forming a legal entity that is one person company.

“The new legislation is investment- friendly and would allow freedom to small investors like craftsman and villagers to get the credit facility and other facilities by forming a legal entity that is one person company,” said the Minister of Corporate Affairs Sachin Pilot here.

The new company law has the potential to unleash huge economic and social value, Pilot said.

Addressing a programme on the Companies Act 2013, he said the new law focuses on the global best practices and meeting the legitimate expectations of all stakeholders.
About the draft rules which have been placed on the website of the ministry, he has invited any number of suggestions so that the best rules can be made.   

He said, “India has a huge untapped investment potential and foreign investors need to get the signal that the country is a safe and profitable investment destination.”  (KNN/GUNJ)