Companies (Amendment) Act, 2017

The Companies (Amendment) Act, 2017 introduced several amendments to the Companies Act 2013 thereby realigning its provisions to improve corporate governance and ease of doing business while continuing to strengthen compliance and investor protection in India.

Objectives: The amendments under the Act are broadly aimed at:

• Addressing difficulties in implementation owing to stringent compliance requirements
• Facilitating ease of doing business in order to promote growth with employment
• Harmonization with the Accounting Standards, the Securities and Exchange Board of India Act, 1992 and the regulations made under the Reserve Bank of India Act, 1934.
• Rectifying omissions and inconsistencies in the Companies Act, 2013.
• Align the Act with the working of Insolvency and Bankruptcy Code, 2016.