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ARTICLE · 06 JANUARY 2021

Key Takeaways From The Companies Amendment Act, 2020

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The Act has received the assent of the President of India, the MCA, may from time to time notify different dates from which the different provisions of the Act shall come into force.

IndiaCorporate/Commercial Law
Neetika Ahuja
Neetika Ahuja
Sweta Sinha
Sweta Sinha
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The Ministry of Corporate Affairs ("MCA"), vide its order dated September 18, 2019, constituted Company Law Committee comprising of the representatives from the Industry chambers, Professional institutes and legal fraternity, to make recommendations for further amendment to the Companies Act, 2013 ("2013 Act"). The Company Law Committee submitted its report to the MCA on November 14, 2019. Basis the report for the proposed amendments submitted by Company Law Committee, the MCA introduced Companies (Amendment) Bill, 2020 in the Parliament which was passed by Lok Sabha on September 19, 2020 and by Rajya Sabha on September 22, 2020. Thereafter, the Companies (Amendment) Bill, 2020 received the assent of the President of India on September 28, 2020 and Companies (Amendment) Act, 2020 ("2020 Act") was introduced.

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