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ARTICLE · 12 FEBRUARY 2019

Companies (Amendment) Ordinance, 2019

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Rules setting out the manner in which the physical verification is to be conducted shall also be made.

IndiaCorporate/Commercial Law
Sawant Singh
Sawant Singh
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Companies Amendment Ordinance 2018 ("Ordinance 2018") issued on November 2, 2018 by the Ministry of Law and Justice brought about significant changes to 31 provisions of the Companies Act, 2013 ("Act"). While Ordinance 2018 got approval from Lok Sabha, it could not be taken up by the Rajya Sabha due to other exigent matters. In an attempt to keep alive, the amendments introduced by Ordinance 2018, which was due to expire on January 21, 2019; it was re-promulgated by another ordinance namely Companies Amendment Ordinance 2019 ("Ordinance 2019") on January 12, 2019 with effect from November 2, 2018. Ordinance 2019 is reflective of the Ministry of Corporate Affair's intention to bring about more transparency and enhance corporate governance.

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