Corporate Lawyer in Pune

Law Amendment Related to Corporate Law: 

• The Companies (Amendment) Act, 2017: This amendment included numerous new clauses, including:

1. 1. A new class of corporations termed “small companies” with simplified compliance requirements
   2. A new provision for shareholder voting on related party transactions
   3. A new provision for the nomination of independent directors

• The Companies (Amendment) Act, 2019: This amendment included numerous new sections, including:

1. 1. A new provision for the nomination of a woman director on the board of every listed firm
   2. A new provision for the publication of information on political donations made by firms
   3. A new provision for the appointment of a compliance officer by every firm

• The Companies (Amendment) Act, 2020: This amendment included numerous new sections, including:
  1. A new provision for the appointment of a managing director or whole-time director by a firm
  2. A new provision for the publishing of data of related party transactions on the company’s website
  3. A new provision for the employment of an internal auditor by every firm

These are only some of India’s most important revisions to corporate law in recent years. For further information, visit the Ministry of Corporate Affairs websites and the Securities and Exchange Board of India.

Here are some of the significant changes that have been made to corporate law in India in recent years:

1. Relaxation of the standards for small enterprises: The Enterprises (Amendment) Act of 2017 formed a new class called “small companies” with lower compliance obligations. This implies that small firms are not needed to comply with all of the rules of the Firms Act 2013.
2. Introduction of a new class of firms called “professional companies”: The Firms (Amendment) Act of 2019 created a new class of companies called “professional companies.” Professionals develop professional businesses to carry out professional activities. Professional firms are subject to various laws and regulations than regular companies.
3. Streamlining the mergers and acquisitions procedure: The Companies (Amendment) Act, 2020, improved the process. This implies that merging or purchasing a firm is now easier and faster.
4. Strengthening corporate governance rules: The Companies (Amendment) Act, 2017, enhanced corporate governance requirements. This implies that corporations must now have a stronger board of directors and provide more information to their shareholders.