The Rajya Sabha on Tuesday passed the Companies (Amendment) Bill 2020 to further revise the Companies Act and decriminalise various compoundable offences as well as promote ease of doing business in the country.
The Lok Sabha had given its approval to the bill on September 19.
The Companies (Amendment) Bill, 2020 seeks to decriminalise various penal provisions, permit direct overseas listing of Indian corporates and introduce a new chapter related to producer organisations in the legislation.
Around 48 sections of the Companies Act, 2013 are being amended to decriminalise various offences.