Continuing our endeavor to keep you updated with the regulatory changes on a near real-time basis, we are now pleased to share our newsflash on the ‘Companies (Amendment) Bill, 2020.’
The Companies (Amendment) Bill, 2020 was introduced in Lok Sabha by Ms. Nirmala Sitharaman (Minister for Corporate Affairs) on 17th March, 2020. The Bill seeks to amend the Companies Act, 2013. It has been passed in the on-going Monsoon Session of the Parliament by the Lok Sabha on 19th September 2020 and by the Rajya Sabha on 22nd September 2020. The bill is yet to receive the assent of the President of India to become the Companies (Amendment) Act, 2020.
In this newsflash, we have summarized certain important amendments proposed under the Companies (Amendment) Bill, 2020 for your ready reference and understanding. Also separately covered the comparative changes pertaining to the penal provisions.