Parliament approved Companies Amendment Act 2020
Amidst of boycott of opposition, Rajay Sabha has recently passed the Companies Amendment Act for introduction of de-criminalization of offenses and inclusion of entire chapter relating of Producer Companies in companies act 2013.
New law also amends the definition of Listed entities, facilitating debt listed companies relief from additional compliances under Companies Act
It also pacifies, penalties and fines for SME, start up, OPC etc by introducing principals of charging penalties and fines for small companies.
Amended law awaits ascent of the President of India and thereafter its commencement notification.
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