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Ordinance to amend Companies Act, 2013
November 10 , 2018
2078 days
866
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- Union Cabinet has approved the proposal for promulgation of ordinance to amend the Companies Act, 2013.
- In this regard, the President has given his assent under Article 123 and it has been promulgated.
- The amendments to the Act are aimed to promote ease of doing business as well as to ensure better compliance levels.
- The ordinance to change Companies Act seeks to declog National Company Law Tribunals (NCLTs) and decriminalise minor offences by the companies.
- The ordinance will transfer 90% of the cases to regional directors under the Ministry of Corporate Affairs from NCLTs.
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