The Indian corporate sector is passing through an interesting phase primarily driven by two key developments. Recently, a newly elected government has assumed office, paving the way for fresh optimism in the Indian corporate sector. The enactment of the Companies Act 2013 is another key event for Indian corporates. The current economic and regulatory environment in India is on the threshold of a major recast. Constant efforts are being made to amend and adapt the laws to suit the demands of changing times. The pivotal focus of all major reforms is directed towards simplification of the legal system to ensure that it is easy to understand, implement and enables business.