Kolkata, Jan 3 (IANS) Amid political uncertainty over the Companies Bill which was withdrawn from parliament after being tabled in the Lok Sabha, Corporate Affairs Minister M. Veerappa Moily Tuesday said the legislation is likely to be passed in the budget session.

“The Companies Bill is likely to come through in the budget session of parliament,” Moily told reporters on the sidelines of a programme organised by SREI Foundation here.

The Companies Bill 2011 was tabled in the Lok Sabha in the winter session to replace the existing Companies Act of 1956. But it was immediately withdrawn following a divide between the Congress and the opposition BJP.

The parliamentary standing committee on finance is likely to meet this month to sort out the differences on the bill.

The minister is also hopeful of passing the Pension Fund Regulatory and Development Authority Bill 2011 in the budget session.

The bill was slated to be introduced in the winter session but the government deferred it due to strong opposition from its ally Trinamool Congress, opposition BJP and the Left.

Trinamool chief Mamata Banerjee is learnt to have written to Prime Minister Manmohan Singh raising certain objections against the bill.

Moily, however, said there were some misinterpretations which were not true. “I think if the bill is properly understood by everyone, I think everybody will agree,” he added.