The Companies Amendment Act, 2020: An Initiative Towards Ease of Doing Business
Volume IV, Issue I, 2021
The Companies (Amendment) Act, 2020 was introduced in the Lok Sabha on 28th September, 2020 with a view to promote the ease of doing lawful business in the country by legitimizing compoundable offences and hence, helping in laying the foundation for the direct overseas listing of Indian companies in the foreign stock exchange. This is the second phase of the decriminalization campaign which had initiated its process in the Companies Amendment Act, 2019 and it is the 4th Amendment Act that was introduced after the rejuvenation of the Companies Act 2013. This research paper emphasizes on creating a deeper and detailed understanding of The Act and the different non-grievous offences like minor, procedural and technical faults in the principal act. The paper showcases various amendments proposed by the Government of India towards the ‘Ease of Doing Business Grand Challenge’ issued by the Hon’ble Prime Minister of India and also offers a comparative analysis between the Indian Company Law legislation and the UK Companies Act, 2006 to formulate a better understanding about the changes proposed in company law with the enactment of this act.