New Delhi, March 23 -- Finance minister Nirmala Sitharaman introduced the Corporate Laws (Amendment) Bill, 2026, in the Lok Sabha on Monday, seeking to ease compliance norms and reduce criminal penalties by amending the Limited Liability Partnership Act, 2008, and the Companies Act, 2013.

The bill was referred to a joint parliamentary committee comprising members from both houses of parliament for further scrutiny and its recommendations after a voice vote on Sitharaman's suggestion.

Opposition members Manish Tewari (Congress), Saugata Roy (Trinamool Congress) and T Sumathy (DMK) opposed the bill, alleging that it sought to dilute provisions requiring companies to mandatorily set aside 2% of their profit towards corporate social respons...