Companies (Amendment) Bill, 2020 passed
- Posted By
10Pointer
- Categories
Economy
- Published
10th Oct, 2020
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- 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.
