If Companies know the law is enforced, compliance is
ensured!
Changes like decriminalizing various penal provisions of the
Companies Act, 2013, setting up more benches of NCLAT, the
establishment of Corporate Social Responsibility
(CSR), etc. were brought up in the Companies Act,
2013 on the suggestion of the Company Law Committee
("committee"). This amendment mainly
focuses on decriminalizing the various provisions of the Companies
Act, 2013. The Company Law Committee comprises members from the
legal field, professional institutes and various industries. On the
14th day of November 2019, the report had been submitted
by the committee to the Union Minister of Corporate Affairs
regarding the recommendations they have proposed. This amendment
was very much needed in the current time to boost up the business
of the corporate world and also to reduce the pendency of the cases
in NCLAT. The new amendment in the Companies Act, 2013 is
beneficial for the growth of the
