Addressing a press conference here on Friday, Jethmalani said, "I propose to pilot legislation relating to companies, which, unfortunately has been pending for quite sometime."

On asked whether the ministry was planning to bring a second short amendment Bill or a take up the Companies Bill, 1997, which is open in Rajya Sabha, the minister said he was yet to go into the details. DCA officials too said that they were actively considering both options.

According to a law ministry source, a short amendment Bill is on the anvil as the main Bill is awaiting recommendations of the standing committee of Parliament, to which the Companies Bill, 1997, was referred. The Bill will now have to be considered by a reconstituted standing committee. Considering that this process would take a long time, the department of company affairs is understood to be in favour of a short bill.

The law minister further stated that measures for providing adequate protection for small share holder or small investor against fraud and misappropriation would be notified soon. The DCA had planned to bring a notification to set up investor protection and education fund prior to the general elections, but the proposal was shot down by the Election Commission.Unveiling an eight-point programme for his ministry, Jethmalani said, he hoped to bring about perceptible legal, judicial and corporate reforms.

He said the government proposed to increase the number of judges at all levels and fill up existing vacancies. He added that in order to ensure that highly qualified and competent person were recruited, the efforts were on to improve quality of legal education, provide intensive training to judges before induction into office and continuing education.