Adoption of Suggestions of Panel on Review of Companies Act

The report of Companies Law Committee (CLC) was submitted on 01/02/2016 vide which the Committee had suggested changes in 78 sections of Companies Act, 2013 not including the consequential amendments in other sections of the Act. The Government has accepted most of the recommendation of the Committee and accordingly, the Companies (Amendment) Bill, 2016, was introduced in the Lok Sabha on 16.03.2016.

This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Rajya Sabha today.