Govt. has notified/ promulgated the ‘Companies (Amendment) Ordinance, 2018’, amending/ incorporating various provisions relating to different financial year for consolidation, filing of declaration for commencement of business, maintenance of registered office, simplification of fine and penalties for minor offences, etc.
Sections 2(41), 12, 42, 54, 64, 77, 86, 87, 90, 92, 102, 105, 117, 121, 137, 140, 157, 159, 164, 165, 191, 197, 203, 238, 248, 441, 446B, 447 and 454 of the Companies Act, 2013 have been amended and new Sections 10A and 454A have been inserted.
It may be noted that the Companies Amendment Ordinance 2018 is based on the Report of Committee constituted by MCA for ‘Review of Penal Provisions of Companies Act 2013’, which included several recommendations relating to corporate compliance/ governance, restructuring of Corporate Offences to relieve Special Courts from adjudicating routine offences, De-clogging the NCLT, etc.
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