Government introduces bill to amend companies law; Congress, TMC, BJD oppose

On March 5, the Reserve Bank superseded the board of Yes Bank in the wake of deepening crisis, mainly due to huge bad loans and a moratorium has been imposed.

A bill to amend the Companies Act 2013 and decriminalise various offences under it was introduced in Lok Sabha on Tuesday, amid opposition by members of various parties. Introducing the bill, Minister of State for Finance and Corporate Affairs Anurag Thakur made it clear that the government was not looking to decriminalise non-compoundable offences. Members from various parties vehemently opposed the introduction of the Companies (Amendment) Bill, 2020.

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