Thursday 18 December 2014

India: Companies (Amendment) Bill 2014 passed in the Lok Sabha

The Companies (Amendment) Bill 2014 was passed yesterday in the Lok Sabha: see here (pdf). A copy of the Bill, as introduced, is available here (pdf). The Bill makes various amendments to the Companies Act 2013, some designed to address omissions and others under the banner of "ease of doing business". In the latter category are changes to the approval requirements for certain related party transactions and the removal of the requirement for companies to have a minimum amount of paid-up share capital.

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