Govt constitutes panel to relook at offences under Companies Act

The government has constituted a 11-member company law committee to analyse and examine the decriminalisation of certain offences under the Companies Act, 2013, improving corporate compliance and other steps to improve the ease of doing business for law-abiding citizens.
 
“The committee will study various areas in the Act which require amendments, but decriminalisation will be taken up on priority,” a senior government official said.
 
The committee will submit its recommendations on offences — both compoundable and non-compoundable — which could be recategorised as ‘civil wrongs’ and suggest measures to optimise the compliance requirements under the Companies Act, 2013,