<h1>Union Cabinet Approves Companies (Second Amendment) Ordinance 2019 to Boost Corporate Governance and Ease of Doing Business.</h1> The Union Cabinet, led by the Prime Minister, has approved the Companies (Second Amendment) Ordinance 2019 to enhance corporate governance compliance under the Companies Act, 2013. This ordinance aims to improve the Ease of Doing Business by incentivizing compliance and imposing severe penalties for serious violations. The amendments re-categorize 16 minor offences as civil defaults, transfer certain functions from NCLT to the central government, and introduce stricter provisions for corporate governance. These changes are expected to reduce the burden on special courts and NCLT, allowing for more efficient handling of serious cases, and incentivizing compliance through an in-house adjudication mechanism.