Tag Archives: fine

A Jump to Relax Special Courts

The government of India promulgated a temporary law called the Companies (Amendment) ordinance 2018 on 2nd November 2018 to by parachute landing of few more reform measure. Constitution of India mandate that Government needs to get it approved by Parliament within 6 months. However, the companies (Amendment) Ordinance, 2018 has nothing which may require urgent attention unless government going to launch large-scale prosecutions against corporates. Moreover, soon after this ordinance government issued a consultation paper for further urgent reforms.

Readers may read this post as a law applicable with effect from 2nd November 2018 till passing law by the Parliament. In this post we will discuss minor changes related to relaxing burden of special courts.

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One might say the Companies Act, 2013 is more about dealing with corporate fraud than regulating companies. Section 447 is most talk about provision of this Act and many sections refer to this section directly.

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