News:The Union government is all set to do away with jail term in over 40 of the 66 sections under the Companies Act 2013.These changes are being discussed by the Company Law Committee. Facts: About the company law committee: Government of India had constituted the company law committee for examining and making recommendations on various… Continue reading Government to decriminalise 2/3rds of offences under the Companies Act
Tag: COMPANIES ACT
Committee to review Companies, LLP Acts
News:Government of India has constituted the company law committee for examining and making recommendations on various provisions and issues related to implementation of the Companies Act. Facts: About the committee: The committee will consist of 11-members which will be chaired by the Ministry of Corporate Affairs (MCA) secretary Injeti Srinivas. The committee will submit its… Continue reading Committee to review Companies, LLP Acts
MCA amends provisions related to Differential Voting Rights under Companies Act
The Ministry of Corporate Affairs has amended the provisions relating to Differential Voting Rights(DVRs) under the Companies Act. This objective of amendment is to enable promoters of Indian companies to retain control of their companies even as they raise equity capital from global investors. The amendments made includes raising the existing cap of 26 %… Continue reading MCA amends provisions related to Differential Voting Rights under Companies Act
Explained: Lok Sabha has passed amendments to The Companies Act. Here’s what they are
Lok Sabha has passed The Companies (Amendment) Bill, 2019.The Bill seeks to amend The Companies Act,2013. Under the 2013 Act,there were 81 compoundable offences that carry punishments of a fine and/or prison terms.These offences were heard by courts. The Bill makes 16 of these offences civil defaults where government appointed adjudicating officers may levy penalties.Some… Continue reading Explained: Lok Sabha has passed amendments to The Companies Act. Here’s what they are
Mallya row: SEBI seeks changes to Companies Act
Capital markets regulator,Securities Exchange Board of India(SEBI) has requested the government to amend the Companies Act to ensure that a director declared by Sebi as a disqualified person should immediately vacate the position.This appeal was required due to defaulter businessman Vijay Mallya’s reluctance to vacate his position as a director. Under the Companies Act, the… Continue reading Mallya row: SEBI seeks changes to Companies Act
