The Viewpoint – Companies (Amendment) Bill, 2014 – A much needed action, but is it enough?

The long awaited Companies Act, 2013 (Act) was notified by the Ministry of Corporate Affairs (MCA) on August 29, 2013 with certain sections coming into force from September 12, 2013 and majority of the sections coming into force from April 1, 2014. While the Act introduced significant changes in the provisions related to governance, disclosure norms, auditors and mergers & amalgamation and introduced new concepts, inter-alia, such as one person company, class action suits and corporate social responsibility, it also faced criticism from various stakeholders due to the . . .

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