Cabinet approves of ordinance to bring amendments to Companies Act

The Cabinet has approved of ordinance to bring amendment to the Companies Act, 2013. The amendments are proposed to be in line with recommendations of a panel headed by Corporate Affairs Secretary Injeti Srinivas. The ordinance will now be sent for Presidential assent. The proposed amendments include capping fees of independent directors while reducing penalties for minor violations. The ordinance shall also cover provisions to decriminalise several offences (about 80) under the Companie

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