The Companies Law Committee (“CLC”) was constituted by the Ministry of Corporate Affairs (MCA) in 2015 to submit recommendations on the functioning of Companies Act, 2013.
The intent of the amendment act was facilitating ease of doing business in India, better Corporate Governance, enforcement of stringent panel provisions for defaulting companies, removal of difficulties in implementation owing to stringent compliance requirements and harmonization with accounting standards, SEBI Act and RBI Act.
However, the KEY amendments/elements from the notified section are described below:
Certain other provisions which have been effected by the amendment act are as follows:
Other provisions have been updated in terms of harmonisation of the act with other laws and existing forms which will ultimately facilitate ease of doing business and remove duplication in the documentation.
Recent Comments