Lok Sabha passes Companies (Amendment) Bill, 2014 Within nine - TopicsExpress

Lok Sabha passes Companies (Amendment) Bill, 2014 Within nine months of operationalizing most provisions of the Companies Act 2013, the Lok Sabha today approved the first amendment to this Act primarily with the intent of improving the ease of doing business in India. This amendment was moved taking into account the pressing issues and key challenges and that have been raised by corporates as well as professionals from their experience in implementing the Act. It comes as a great relief to corporates as they go about implementing the new law and gear up for the first year of reporting under the new law. However, there are still some areas where corporates continue to have concerns, and hope that a more comprehensive post implementation review of the Act will be undertaken to address these other issues. On the whole, it is a step in the right direction, and the pace at which the government has moved to amend the Act, should make up for the implementation challenges that corporates have faced over the past few months. - Sai Venkateshwaran, Partner and India Head - Accounting Advisory Services, KPMG in India | slidesha.re/1wKnxF4

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