Brief Synopsis On Companies Amendment Bill, 2014

Article by Karan Gandhi and Mukesh Arora¹

INTRODUCTION

2014 has been an exceptional year be it the elections, globalization and liberalization in the policies, new areas opening and widening of FDI sectors, significant governance related policies and perhaps a new approach to governance. To the corporate world, there have been a significant amount of changes to the applicable laws; specifically Companies Act, 2013, Delisting Regulations, Governance issues etc.

Companies Act 2013 is a complete enactment which introduced more transparency, governance, strict compliances, penalties etc. in the corporate India but in the interest of public and upon representations from various bodies, it was observed that there are some difficulties in enforcement of certain provisions. In order to overcome these difficulties, the Companies (Amendment) Bill, 2014 was passed in lower house of parliament on 17.12.2014.