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27
July 2017
The Lok
Sabha on Thursday took up discussion on a bill to amend the Companies Act,
2013, in relation to structuring, disclosure and compliance requirements for
firms.
Moving
the Companies (Amendment) Bill, 2016, for consideration and passing in the Lok
Sabha, Minister of State for Finance Arjun Ram Meghwal said once passed, the
amendments will improve the "ease of doing business ranking" for
India. The Total Investment &
Insurance Solutions
Congress
leader K.V. Thomas said the bill aimed at diluting many provisions of the act.
The
Companies Act, 2013, limits the number of intermediary companies through which
investments can be made in a company. Similarly, the act limits the number of
layers of subsidiaries a company can have. The bill removes these limits. The Total Investment & Insurance
Solutions
The Act
also requires an individual who has a beneficial interest in the shares of a
company to disclose these.The Total
Investment & Insurance Solutions
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