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Companies (Amendment) Bill, 2020
September 27 , 2020
1514 days
721
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- The Bill seeks to amend the Companies Act, 2013.
- It aims to reduce the burden on the National Company Law Tribunal.
- The Bill empowers the central government to allow certain classes of public companies to list classes of securities in foreign jurisdictions.
- The Bill exempts companies with a CSR (Corporate Social Responsibility) liability of up to Rs 50 lakh a year from setting up CSR Committees.
- The Bill makes three changes in offences.
- Removes the penalty for certain offences.
- Removes imprisonment in certain offences.
- Reduces the amount of fine payable in certain offences.
- Also, it decriminalises various offences which can promote Ease of doing ethical business and Ease of doing honest business.
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