Company Law, an ever evolving subject, has undergone major transformation in the last decade. The impetus for such transformation germinated partially from the worldwide move for market oriented polices and partially by disquieting features of globalisation, resulting into focused attention on need for Good Corporate Governance. The advancements in information technology and influence of faster means of communications over corporate operations have also provided impetus for such transformation. In other words, the paradigm shift witnessed in the global economy and corporate sector the worldover, have cumulatively presented various issues that have triggered debate and become important factors for initiating changes in Company Law in our country and abroad.