{"id":86272,"date":"2019-09-19T16:57:16","date_gmt":"2019-09-19T11:27:16","guid":{"rendered":"http:\/\/factly.forumias.com\/?p=10253"},"modified":"2019-09-19T16:57:16","modified_gmt":"2019-09-19T11:27:16","slug":"committee-to-review-companies-llp-acts","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/committee-to-review-companies-llp-acts\/","title":{"rendered":"Committee to review Companies, LLP Acts"},"content":{"rendered":"\n<p><strong>News:<\/strong>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.<br><\/p>\n\n\n\n<p><strong>Facts:<\/strong><br><\/p>\n\n\n\n<p><strong>About the committee:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The committee will consist of 11-members which will be chaired by the Ministry of Corporate Affairs (MCA) secretary Injeti Srinivas.<\/li><li>The committee will submit its recommendations on offences both compoundable and non-compoundable which could be recategorised as civil offences under the Companies Act, 2013.<\/li><li>The panel will propose measures to improve the functioning of the National Company Law Tribunal.<\/li><li>The committee will also examine the feasibility of introducing settlement mechanism, deferred prosecution agreement within the fold of the Companies Act, 2013.<\/li><li>Further,it will also study the existing framework under the Limited Liability Partnership Act, 2008 and suggest measures to plug the gaps, if any, to enhance the ease of doing business.<\/li><\/ul>\n\n\n\n<p><strong>Additional information:<\/strong><br><\/p>\n\n\n\n<p><strong>Compoundable and non-compoundable offences:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Compoundable offences are those that are punishable with a fine or with a fine or imprisonment or both.<\/li><li>Non-compoundable offences are those offences which are punishable with imprisonment only or punishable with imprisonment and fine.<\/li><\/ul>\n\n\n\n<p><strong>Companies Act,2013:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The Companies Act 2013 is an Act of the Parliament of India on Indian company law.Company means a company incorporated under this Act or under any previous Company Law.<\/li><li>The law regulates incorporation of a company, responsibilities of a company, directors and dissolution of a company.&nbsp;<\/li><\/ul>\n\n\n\n<p><strong>Limited liability partnership act,2008:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The Limited Liability Partnership Act,2008 was enacted by the Parliament of India to introduce and legally sanction the concept of LLP in India.<\/li><li>A limited liability partnership(LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities.<\/li><li>In an LLP,each partner is not responsible or liable for another partner&#8217;s misconduct or negligence.<\/li><li>This is an important difference from the traditional unlimited partnership in which each partner has joint and several liability.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>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&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/committee-to-review-companies-llp-acts\/\">Continue reading <span class=\"screen-reader-text\">Committee to review Companies, LLP Acts<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3127],"tags":[353,3198,3852],"class_list":["post-86272","post","type-post","status-publish","format-standard","hentry","category-economy","tag-committee","tag-companies-act","tag-limited-liability-act","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704805339},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=86272"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86272\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=86272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=86272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=86272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}