The amendments in the companies Act occur very frequently. The majority of amendments have come after the year 2017. To know about the latest amendments, we have to refer the Companies (Amendment) Ordinance 2019. However, it is an ordinance, i.e., it could not be passed through either of the houses to become an Act, but the same is part of the Act.
It was the 2018 bill which could not be passed in time, though it passed through Lok Sabha in Rajya Sabha it was pending because of which the ordnance (Amendment) Act 2018 came into force. The ordinance Act has the validity of 2 months only. So the Ordinance Act became the Companies (Amendment) bill 2019 since this second Ordinance bill also couldn’t go through it; thus, it will also lapse within two months. But per se whatever is stated in the ordinances is all part of the Act.
The significant changes brought by the Amendment Act 2017, which became effective from June 2018 were the penalty. The word penalty was inserted wherever the term fine was used. The reasoning behind this Read More
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