Decriminalising corporate law

Good move, but a more holistic approach needed

Taking forward the idea of reducing government interference and improving the ease of doing business, as reiterated by Prime Minister Narendra Modi in his Independence Day speech last week, the government is planning to decriminalise 65 Sections of the Companies Act where the offence is not of a serious nature. As reported by this newspaper, the corporate affairs ministry’s committee on decriminalisation will work in two phases. In the next phase, it will study the Sections involving frauds, and possibly reduce punishment for offences that are not serious and do not affect the public interest. The government is also reportedly