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Smt @nsitharaman moves the Companies (Amendment) Bill, 2019 for consideration in the Rajya Sabha.
@nsitharaman Smt @nsitharaman replies to the debate on Companies (Amendment) Bill, 2019 in the Rajya Sabha.
@nsitharaman Gandhiji’s trusteeship principle is with which profit-making can not be devoid of social responsibility. The amendments we are bringing now are only to sharp focus that and make it far more effective: Smt @nsitharaman
@nsitharaman Here is a Companies Act that is undergoing major changes. We are trying to bring in ease of doing business, bringing in a robust framework through which the Companies Act can be implemented: Smt @nsitharaman
@nsitharaman We are declogging the NCLT by shifting of routine matters out of that. We are also trying to rationalise and recategorise minor offences for civil defaults: Smt @nsitharaman
@nsitharaman Now it has become mandatory that companies do have a physical address. Physical register is to be maintained so that people can go and check them and there is a veracity of their claims: Smt @nsitharaman
@nsitharaman Breach of ceiling on directorship is being made a ground for disqualification. For instance, if the numbers are crossed for holding the directorship beyond the permissible limit, it will bring in disqualification: Smt @nsitharaman
@nsitharaman Even before you start the function, it is necessary for the company to declare before commencement of business: Smt @nsitharaman
@nsitharaman Companies will now have to explain where they have spent the CSR money. We are giving a three years window after which they will have to move the CSR money in an escrow account if they don’t spend it: Smt @nsitharaman
@nsitharaman Sec. 135 is being amended to provide for a specific penal provision in case of non-compliance of CSR: Smt @nsitharaman
@nsitharaman We are strengthening the enforcement provisions that enable the SFIO to ensure speedy and more effective enforcement, including actions of disgorgement: Smt @nsitharaman
