ANALYSIS OF COMPANY LAW AMENDMENTS: AS A PROGRESSIVE STEP TOWARDS BETTER CORPORATE GOVERNANCE
This paper seeks to critically analyse the role of various amendments to the Companies Act, 2013 (hereinafter referred to as “the Act”), namely the Companies (Amendment) Act, 2015 and the Companies (Amendment) Act, 2017, and allied laws in promoting ease in doing business. In view of increasing emphasis on adherence to norms of good corporate governance, Companies Law assumes an added importance in the corporate legislative milieu, as it deals with structure, management, administration and conduct of affairs of Companies.1 The enactment of the Companies Act, 2013, was the most significant reform which introduced various changes in the company law in India. However, the implementation of the same was met with various difficulties. In order to overcome them, various amendments were made in the Act. These amendments thus focus upon the flaws and faults which were observed in the bare text of the Act and were aimed at widening and enlarging the scope of the provisions of the Act, to make company law free from ambiguities. Thus, the authors have attempted to explain the present position of the amended provisions in this paper. This paper is thus an analysis of the amendments that are aiding the businesses by adopting a liberal and progressive corporate governance mechanism.