MCA further amends Companies Act, 2013 through an ordinance
The Government of India constituted a committee to review the existing framework dealing with offences under the Companies Act, 2013 (2013 Act) and related matters. The committee was required to make recommendations to promote better corporate compliance.
The committee submitted its report on 27 August 2018.
On 2 November 2018, the Ministry of Law and Justice issued the Companies (Amendment) Ordinance, 2018 (ordinance) and amended the 2013 Act based on the recommendations of the committee.
The ordinance is effective from 2 November 2018.
This issue of First Notes provide an overview of the key amendments made by the ordinance to the provisions of the 2013 Act.
To access the text of the ordinance, please click here.
© 2018 KPMG, an Indian Registered Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.