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        Corp. Laws, SEBI & IBC

        Amendment in Companies Act

        March 17, 2017

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        Amendments in the Companies Act, 2013 have been proposed through Companies (Amendment) Bill, 2016. The said Bill, inter-alia, includes changes in provisions relating to incorporation related matters with regard to name reservation, contents of memorandum and for substitution of requirement of “affidavit” at the incorporation stage with “declaration”. Companies (Amendment) Bill, 2016 was referred to Standing Committee which submitted its report to the Parliament on 07.12.2016. Necessary official amendments shall be proposed in the Companies (Amendment) Bill, 2016 before the Bill is taken up for consideration in the Parliament.

        This was stated by Shri Arjun Ram Meghwal, Minister of State for Corporate Affairs in written reply to a question in Lok Sabha today.

        Incorporation requirements: Bill proposes replacing affidavits with declarations and updating name and memorandum rules, pending amendment. Proposed amendments revise incorporation procedures by changing name reservation rules, modifying memorandum content requirements, and replacing the affidavit requirement with a declaration; these changes are contained in a pending amendment Bill that has undergone committee review and will receive further official amendments before parliamentary consideration.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Incorporation requirements: Bill proposes replacing affidavits with declarations and updating name and memorandum rules, pending amendment.

                                Proposed amendments revise incorporation procedures by changing name reservation rules, modifying memorandum content requirements, and replacing the affidavit requirement with a declaration; these changes are contained in a pending amendment Bill that has undergone committee review and will receive further official amendments before parliamentary consideration.


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