Tuesday, December 16, 2014

Companies (Amendment ) Bill 2014 passed in Lok Sabha

Companies (Amendment ) Bill 2014 was passed in  Lok Sabha today on 16-December-2014.

The main amendments are scrapping of Paid up Capital, Making Common Seal optional, prescribing punishments for accepting deposits in contravention of the Act, removing public inspection of Board Resolutions.

Most of the amendments are meant for easing the way to do business.