New Delhi, July 1, 2014: FICCI welcomes the notification of the eagerly awaited Companies (Cost Records and Audit) Rules by the Ministry of Corporate Affairs. This is a positive step in the overall implementation of the Companies Act, 2013.
“We are pleased to note the Rules are in sync with realities of our economy and its future direction through market-led growth. It is progressive that the application of the Rules is both size and product based. There is of course room for higher, thresholds as many small companies will be captured in a growing economy. FICCI believes the Government at some stage will find value in doing so.”, said Mr. Sidharth Birla, President, FICCI.