India, Dec. 16 -- The Government of India has issued a release:
The Ministry of Corporate Affairs has been taking the following key steps from time to time to ease the compliance burden on the corporates:
i. De-criminalization of technical & procedural violations under Companies Act, 2013 has been done in two stages (in the year 2018 and year 2020) through amendments in such Act. As a result, 51 offences under the Companies Act, 2013 have been decriminalised. Further, vide LLP (Amendment) Act, 2021, 12 offences have been decriminalised. Most of such offences have been converted into civil defaults to be adjudicated by levy of monetary penalties. This has reduced the burden on criminal courts & National Company Law Tribunal.
ii. The scope...