Companies (Amendment) Bill 2020

On 17th March, the Companies (Amendment) Bill 2020 was introduced in the Lok Sabha. This is the second amendment being made to the companies Act in the last one year. The Act was amended in July, 2019,to tighten Corporate Social Responsibility (CSR) norms and ensure stricter action for non-compliance of the company law regulations.The proposed amendment are aimed at improving ease of doing business.

Key Changes

  • As many as 23 offences would be recategorised out of 66 compoundable offences under the Act.
  • Besides, seven compoundable offences would be omitted.
  • Companies which have an obligation to spend Rs. 50 lakh per annum ....
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