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

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  • Verma, Shraddha
  • Gray, Sid J.

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.

Suggested Citation

  • Verma, Shraddha & Gray, Sid J., 2009. "The development of company law in India: The case of the Companies Act 1956," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 20(1), pages 110-135.
    • Handle: RePEc:eee:crpeac:v:20:y:2009:i:1:p:110-135
    DOI: 10.1016/j.cpa.2007.07.001
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    Cited by:

    1. Vassili Joannides & Nicolas Berland & Danture Wickramasinghe, 2010. "Post-Hofstede diversity/cultural studies: what contributions to accounting knowledge?," Post-Print hal-01661685, HAL.
    2. Sian, S. & Verma, S., 2021. "Bridging the divide: The rise of the Indian Accountant from 1900 to 1932," The British Accounting Review, Elsevier, vol. 53(2).
    3. Verma, Shraddha, 2015. "Political, economic, social and imperial influences on the establishment of the Institute of Cost and Works Accountants in India post independence," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 31(C), pages 5-22.
    4. Vassili Joannides & Nicolas Berland & D. T. Wickramasinghe, 2010. "Post-Hofstede diversity/cultural studies: what contributions to accounting knowledge?," Grenoble Ecole de Management (Post-Print) hal-00676570, HAL.
    5. Vassili Joannides & Nicolas Berland & D. T. Wickramasinghe, 2010. "Post-Hofstede diversity/cultural studies: what contributions to accounting knowledge?," Post-Print hal-00676570, HAL.
    6. Vassili Joannides & Nicolas Berland & Danture Wickramasinghe, 2010. "Post-Hofstede diversity/cultural studies: what contributions to accounting knowledge?," Grenoble Ecole de Management (Post-Print) hal-01661685, HAL.

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