New Delhi: The Lok Sabha on Thursday passed a bill to amend the companies law seeking to strengthen corporate governance standards, initiate strict action against defaulting companies and help improve the ease of doing business in the country. The bill, which was passed by a voice vote, provides for more than 40 amendments to the Companies Act, 2013, which was passed during the previous UPA regime. It would also help in simplifying procedures, make compliance easy and take strigent action against defaulting companies, he said. Replying to the discussion on the bill, Meghwal sought to allay concerns raised by some opposition members that the latest amendments would dilute the objectives of the Companies Act, 2013. The amendments would strengthen corporate governance standards and improve transparency.

Source: Mint July 27, 2017 15:11 UTC