Shifting Goalposts

Too many changes in new companies law keep India Inc on its toes.

By DIPAK MONDAL

THE LATEST CHANGES, 78 IN ALL, HAVE BEEN RECOMMENDED BY THE COMPANIES LAW COMMITTEE The half-baked Companies Act, 2013, has come to haunt industry yet again. It has been just one-and-a-half year since the new Companies Act came into force. Already, around 100 amendments have been either made or proposed. The latest changes, 78 in all, have been recommended by the Companies Law Committee, constituted in May 2015. And this, when the full law is not in force yet. Alhough most experts have welcomed the recommendations, they complain that the changes are too much in too little time (the law came into force on 1 April 2014). This shows the law was hurriedly drafted, they say. Darshan Upadhyay, Partner, Economic Laws Practice, says even when the law was being drafted, a lot of…

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Business Today (Digital) - 1 Issue, February 28, 2016

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