The Central Government has constituted a Company Law Committee to look into recommendations on various provisions of the Companies Act, 2013 and the Limited Liability Partnerships Act, 2008.
The Company Law Committee will be chaired by Secretary of the Ministry of Corporate Affairs, Injeti Srinivas.
A Joint Secretary (Policy) has also been designated as Member Secretary of the 11-member Committee. The seven others appointed as members of the committee are as follows:
The order released by the Ministry of Corporate Affairs states,
“In line with the Government’s objective of promoting Ease of Living in the country by providing Ease of Doing Business to law abiding corporates, fostering improved corporate compliance for stakeholders at large and also to address emerging issues having impact on the working of corporates in the country, it has been decided to constitute a Company Law Committee for examining and making recommendations to the Government on various provisions and issues pertaining to implementation of the Companies Act, 2013 and the Limited Liability Partnership Act, 2008.”
The terms of reference of the Committee include:
The Committee is to have a one year tenure from the date of its first meeting. It is expected to submit its recommendations in phases to the government from time to time, as may be decided by the Chairperson.
Shroff and Bahl were also part of the 10-member Committee set up to review the penal provisions under the Companies Act, 2013 last year.
Read the order: