India, Aug. 3 -- A Parliamentary panel, which reviewed the proposed amendments to corporate laws, on Monday, August 3, made various recommendations, including having a fixed penalty of Rs 50,000 for certain non-compliances and permitting in-kind CSR contributions for small companies.

Besides, the Joint Committee on the Corporate Laws (Amendment) Bill, 2026, has suggested that exemption from mandatory statutory audit be allowed only for small businesses and not for public companies.

Another recommendation is to enable "seamless re-domiciliation of foreign companies to IFSC without requiring winding-up in their home jurisdiction" -- a move that would allow overseas companies to move their operations to India without much hassle.

The comm...