The promulgation of Companies (Amendment) Ordinance, 2018, to promote ease of doing business and corporate compliance received presidential consent on 2 November.
Managing partner
Deepak Sabharwal & Associates
The main features of the ordinance are re-categorization and starting a technology driven in-house adjudication mechanism for certain compoundable offences that are subject to penalties, as well as reducing the burden of the National Company Law Tribunal (NCLT) by 60% and increasing the role of regional directors in tackling issues of “shell” companies.
According to the ordinance new entities will face stiffer penalties in case of defaults and old corporates have to realign their strategies in line with the amendments. The key highlights of ordinance are:
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Deepak Sabharwal is the managing partner of Deepak Sabharwal & Associates.
Deepak Sabharwal & Associates
A-19, 1st Floor, Kailash Colony
New Delhi – 110 048, India
Mumbai | Kolkata | Chennai | Hyderabad | Bengaluru
Contact details
Tel: +91 11 2923 0232 / +91 11 2924 0232
Email: delhi@sabharwalindia.com
Website: www.sabharwalindia.com
