New Delhi, March 24 -- Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Monday introduced amendments to the Companies Act aimed at decriminalising procedural defaults, improving ease of doing business, and strengthening regulatory oversight.
The proposed legislation, which has been referred to a Joint Parliamentary Committee for further examination, seeks to reduce compliance burden by decriminalising several minor offences.
Decriminalisation And Ease Of Doing Business
These include procedural lapses related to prospectus issuance, buybacks, annual general meetings (AGMs), maintenance of accounts, and certain defaults by directors. Similar provisions have also been proposed under the Limited Liability Partnership (LL...