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<h1>Decriminalisation of company law defaults shifts many technical offences to civil monetary penalties and regulatory exemptions.</h1> The Bill replaces multiple imprisonment provisions with monetary penalties and daily continuing fines, adopts a principle based decriminalisation of technical defaults, empowers the Central Government to exempt or prescribe classes of companies and persons, and introduces a new Chapter establishing a statutory regime for Producer Companies covering objects, membership, governance, capital distribution, accounting, dispute resolution, mergers, conversion of inter State co operative societies, and tailored penalties and transitional provisions.