(Video) Rajya Sabha TV (RSTV) In Depth: The Companies (Amendment) Bill, 2020

Topic: The Companies (Amendment) Bill, 2020

Topic Description:

A bill to amend the Companies Act 2013 and decriminalise various offences under it was introduced in Lok Sabha on Tuesday.

Minister of State for Finance Anurag Thakur introduced the Bill in the lower house, making it clear that the government was not looking to decriminalise non-compoundable offences.

The Bill was introduced amid opposition by members of various parties who vehemently opposed the bill, demanding that it be referred to the Parliamentary Standing Committee on Finance.

The government says the amendments in the existing Companies Act will help reduce the burden on the National Company Law Tribunal.