Companies Act (Amendment) Bill, 2020

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Why in News?

The Lok Sabha, the Rajya Sabha has  cleared the Companies (Amendment) Bill, 2020. The Companies (Amendment) Bill, 2020 was introduced in Lok Sabha by the Minister for Corporate Affairs, Ms. Nirmala Sitharaman, on March 17, 2020.

The Bill seeks to amend the Companies Act, 2013.

Why amendment is introduced?

-The amendment is set to replace an Ordinance that has already brought these changes into effect.

-It also looks to promote ease of doing business.

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