One thing which eventually affects many needs to be streamlined always and forever. One such illustration attached to it is the law and legislations related to corporate sector. We started following the British footsteps and now we have our own very legislation which shows us the path for ease of doing business. The Bhabha committee gave us the Companies Act of 1956, which went through many amendments in the year 2013, 2015, 2017 and now 2019, can give us new colors and pictures attached to it.
Laws related to corporate sector should always be kept on its toes because this is a very volatile aspect which keeps on changing can affect not only the personal interest but also is a huge source for economic development for any nation. Keeping this aspect in mind we now have a new committee been formed under the chairmanship of Mr. Injeti Srinivas formed by the Ministry of Corporate Affairs (MCA) who have given certain recommendations associated with the Companies Act, 2013. The bill is passed by the Lok Sabha but is yet pending in the Rajya Sabha. This new aspect of 2019 has amended near about 29 sections and has also added 2 new sections. The prime focus of this bill is to decrease the case load on the NCLT ie National Company Law Tribunal and also seeks to help or improve the ease of doing business in and out of the nation worldwide. Let’s see what these new amendments hold for us..!!