The Companies Act, 2013 was brought to solidify the law
identifying companies in India by replacing the erstwhile Companies
Act, 1956. In order to survey the current arrangements of the Act
and make relevant laws for corporate offences and to ensure better
corporate ccompliances, the Government of India comprised a
Committee in July 2018 for reviewing the burdensome compliances
under the Act as well to take the perspective of various
stakeholders regarding recategorizing of offences under the Act.
The said Committee, in the wake of taking the perspectives of the
relevant stakeholders, presented its Report in August 2018 which
prescribed that the current thoroughness of the law should proceed
for genuine offences, while the breaches that are basically
technical or procedural in nature might be moved to in-house
adjudicating process rather than approaching the National Company
Law Tribunal (NCLT). The Companies (Amendment) Ordinance, 2018
which was promulgated on 2nd Novem
