Companies (Amendment) Bill, 2018 passed by Lok Sabha

New Delhi, Jan 5 (KNN) The Lok Sabha passed the Companies (Amendment) Bill, 2018 that seeks to improve ease of doing business, declog the NCLT and prescribe strong action against non-compliant companies.

Minister of State for Corporate Affairs, PP Chaudhary, got passed the bill with a voice vote with amendments.

Chaudhary said that the bill has been brought with a view to de-clog the Special Courts and National Company Law Tribunal (NCLT). 

He added that it will also reduce the burden on NCLT and Special Courts and improve ease of doing business in the country. 

"Why the government was in hurry to bring Companies (Amendment) Bill, 2018? Whose interest the government wants to serve? Is it good for the country, is it good for the poor class,” Tathagata Satpathy of the BJD asked while participating in the discussion.

"What are the business interests which prompted this government to bring this ordinance," he added.

The Corporate Affairs Ministry, which is implementing the Act, has been looking at ways to promote ease of doing business as well as to ensure better compliance levels.