The development of company law in India: The case of the Companies Act 1956

Shraddha Verma and Sid J. Gray

CRITICAL PERSPECTIVES ON ACCOUNTING, 2009, vol. 20, issue 1, 110-135

Abstract: The influence of social and cultural context, including imperial influences, and politics on the promulgation of the Companies Act 1956 in post independence India, focusing in particular on accounting regulations incorporated in the Act, is explored using a framework based on the work of McKinnon [McKinnon JL. The historical development of the operational form of corporate reporting regulation in Japan. New York: Garland; 1986]. Within the framework, the promulgation of the Companies Act 1956 is analysed into three phases: source, diffusion and reaction with all phases being influenced by the social and cultural context of India and political processes. In particular, the importance of the role of the government and the socio-economic and cultural context of India is indicated in both the need for, and in the process of, change to the Companies Act 1956.

Keywords: Culture; Politics; Accounting change; India; Company law (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:crpeac:v:20:y:2009:i:1:p:110-135

DOI: 10.1016/j.cpa.2007.07.001

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