HOW THE COMPANIES (AMENDMENT) BILL, 2020 SEEKS TO DECRIMINALISE VARIOUS OFFENCES UNDER THE COMPANIES ACT, 2013
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https://doi.org/10.55662/Keywords:
Companies Act 2013, Companies Amendment Act 2020, DecriminalisationAbstract
When the country is in midst of a pandemic and businesses are dealing with the aftereffects of the lockdown, The Ministry of Corporate Affairs introduced the Company Amendment Act 2020, which received the assent of the President on 28th September 2020, and is one of the key amendments in the Companies Act primarily focusing on increasing the ease of doing business in India. The Act decriminalises various non-compoundable offences which were considered procedural and technical in nature, (but not offences involving frauds) and alters many penalties. It proposes to insert four more sections and amends sixty-one of the existing ones.
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