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MCA notified the Companies (Amendment) Act, 2020

MCA notified the Companies (Amendment) Act, 2020

This issue of the First Notes provides an overview of the recently notified sections of the 2020 Amendment Act.

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The Ministry of Corporate Affairs (MCA) issued certain amendments to the Companies Act, 2013 (2013 Act through the Companies (Amendment) Act, 2020 (2020 Amendment Act) which received the assent of the President of India on 28 September 2020. The 2020 Amendment Act incorporates amendments suggested by the Company Law Committee (CLC) in its report. The government constituted CLC in September 2019 to review sections on offences under the 2013 Act and suggest changes to promote ease of doing business and ease of living for law-abiding corporates.

Further, MCA through its notification dated 21 December 2020 notified certain sections of the 2020 Amendment Act. The notified amendments were mainly relating to decriminalisation of certain compoundable offences and rationalisation of penalties.

Recently on 22 January 2021 and 11 February 2021, MCA notified certain other sections of the 2020 Amendment Act.

This issue of the First Notes provides an overview of the recently notified sections of the 2020 Amendment Act.

To access the text of the:

- The Companies (Amendment) Act, 2020, please click here.

- MCA notification dated 21 December 2020, please click here

- MCA notification dated 22 January 2021, please click here

- MCA notification dated 1 February 2021, please click here

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