Legal & Regulation

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Key amendments to companies act, 2013 in financial year 2018-19

The Companies Act, 2013 was amended many times after its enactment for the smooth implementation. Every chapter of the Act has seen some major amendments to get it in line with the motive of ensuring Ease of Doing Business and corporate governance. Recently changed version was brought up with The Companies (Amendment) Act, 2017, which received the assent of the President on 3 January 2018. Thereafter, Ministry of Corporate Affairs recommended certain other amendments to reduce the burden of routine matters before NCLT (National Company Law Tribunal) and strengthen the enforcement against serious offenses, which was brought up with The Companies (Amendment) Ordinance, 2018.

We believe our analysis on recent amendments in Companies Act, 2013, available for download, will help you to understand the fine print of certain changes brought in by these amendments in the areas of incorporation, capital infusion via allotment, deposits, administration of company and its management, accounts, and audit.

Recent changes made in companies act, 2013

The Ministry of Corporate Affairs has recently brought in various changes in Companies Act, 2013. Some of the major changes relates to reporting of amounts not considered as deposits, reporting of details of ultimate individual owner of the company, reporting of outstanding amounts to be paid to MSME suppliers and reporting of registered office and KMP details of the company. With these amendments Companies Act is now in sync with the objective of other acts like Prevention of Money Laundering Act, 2002, Benami Transactions (Prohibition) Act, MSME Act, 2006, etc.

We believe our short analysis on recent amendments in Companies Act, 2013, available for download, will help you to understand the fine print of certain changes brought in by these amendments in the areas of Deposits, Significant Beneficial Owner, MSME Payments, Form Active.

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