A bill to amend companies Act, 2013 has been passed by the government on Wednesday.Purpose of amendments in companies Act is to ensure strict actions against the violations and strengthen the legal framework.
A total of 43 amendments are approved by the government, which includes 12 additional amendments in 11 sections of the act, amendment in 29 sections and 2 new sections has been inserted. This bill would replace an ordinance issued in 2019.
The amended Act will focus on the promotion of ease of doing business de-clogging of National Company Law Tribunal and Special Courts.
Also, there will be special attention will be on serious cases of violations of the Act and ensuring enhanced compliance by corporates.