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Companies (Amendment) Bill, 2020 passed

  • Posted By
    10Pointer
  • Categories
    Economy
  • Published
    10th Oct, 2020
  • Lok Sabha has passed the Companies (Amendment) Bill, 2020, which decriminalizes a number of technical and filing-related corporate offences.
  • It allows direct listing of Indian companies on foreign stock exchanges.
  • It revokes the criminal provisions added to the Companies Act for violations of provisions of corporate social responsibility rules.
  • 48 sections of the Companies Act, 2013 will be amended to decriminalize various offences.
  • However, there will be no relaxation for serious offences, including fraud, deceit and those that cause injury to the public.
  • 17 provisions in the Companies Act, 2013, have also been amended which paves way for easy and user-friendly fulfilment of statutory compliances.

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