It is an executive body established by an order of Government of India. It is mandated to suggest legal reforms.
The first Law Commission was established by British India Government in 1834 (Lord Macaulay) to suggest reforms in British enactments.
Post-Independence, the first Law Commission was setup in 1955 under the chairmanship of M.C. Setalvad. It recommended important legislation in its 1956 report like Limitation Act, Registration Act, etc.
The recommendations given by Law Commission of India are voluntary on states i.e. they are forced to accept it.
The latest Law Commission (21st) was setup in 2015 under the chairmanship of Balbir Singh ....