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11 member Company Law Committee Gets 1 year Extension; Headed by Rajesh Verma

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Company-Law-Committee-gets-one-year-extension-headed-by-Rajesh-VermaOn September 17, 2020 The Ministry of Corporate Affairs(MCA) extended the tenure of the Company Law Committee by one year, i.e., this committee constituted in September 2019 has been extended upto two years( 17.09.2021)from the date of the order to constitute the committee(18.09.2019). It is now chaired by Rajesh Verma, Secretary of  MCA.

The 11-member committee has a mandate to submit periodic recommendations to the government in phases and subject-wise, as may be decided by the chairman.

Company Law Committee

i.The Ministry of Corporate Affairs in September 2019 constituted the Company Law Committee, inter alia, to recommend measures to improve and enhance the functioning of the National Company Law Tribunal (NCLT) and,

ii.Examine and suggest recommendations to the Government on various provisions and issues related to  implementation of the Companies Act, 2013 and the Limited Liability Partnership Act, 2008.

iii.The committee was constituted in accordance with the objective of the Government to  provide ease of living in the country by providing Ease of Doing Business to law abiding corporates, promoting enhanced corporate compliance for stakeholders at large and addressing emerging issues affecting the functioning of companies in the country.

Note– The Secretary of MCA will be the chairman of the committee. At the time of formation of the committee Injeti Srinivas was the chairman.

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From July 4, 2020, Central Committee for reforms in Criminal Law, headed by Ranbir Singh was constituted by Ministry of Home Affairs (MHA) & is going to start a 3 months long online consultation exercise. The objective of this exercise is to gather opinions by consulting with experts and collating material for their report to the government.

About Ministry of Corporate Affairs(MCA):

Union Minister– Nirmala Sitharaman(Constituency- Rajya Sabha, Karnataka)
Minister of State– Anurag Singh Thakur