The Lok Sabha on July 27 passed a bill by voice vote to amend the existing companies law with a view to boost corporate governance standards and ease of doing business.

Minister of State for Finance Arjun Ram Meghwal, who moved the Companies (Amendment) Bill, 2016, said the amendments would improve India’s “ease of doing business ranking” for India. It would also facilitate in initiating strict action against defaulters.

Congress leader KV Thomas said many provisions of the act would be diluted. Denying the claim, Meghwal said it would further provide relief and protection to small investors.

Source: Hindustan Times