On the Path of Decriminalising the Misdemeanours: Strides Towards Ease of Doing Business – The Underlying Principles and Arguments

Authors

  • Pankaj Kapoor Functional Consultant – Finance and Economics Laws, Jalandhar
  • Pallav Kapoor Advocates and IP Attorneys, Jalandhar

DOI:

https://doi.org/10.33516/maj.v57i2.48-51p

Abstract

To foster the entrepreneurial spirit, removing the fear of criminal prosecutions for minor omissions and commissions in the normal course of business is of paramount importance and hence the Ministry of Corporate Affairs (MCA) being the corporate regulator is currently on decriminalisation drive. The MCA facilitates the ease of doing business through decriminalisation of compoundable offences under the Companies Act, 2013 and the Limited Liability Partnership Act, 2008 to start with. This article is an attempt to focus on the need for decriminalising and outline the principles adopted for such a process along with arguments for and against it.

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Published

2022-02-10

How to Cite

Kapoor, P., & Kapoor, P. (2022). On the Path of Decriminalising the Misdemeanours: Strides Towards Ease of Doing Business – The Underlying Principles and Arguments. The Management Accountant Journal, 57(2), 48–51. https://doi.org/10.33516/maj.v57i2.48-51p

Issue

Volume 57, Issue 2, February 2022

Section

Cover Story
Crossref
Scopus
Google Scholar
Europe PMC

References

(MoIB GoI, 2021) Ministry of Information and Broadcasting, Government of India. (2021) E-booklet - Boost to Ease of Doing Business and Investment in the Country: Decriminalisation of offences under the Companies Act, 2013. Press Information Bureau. https://static.pib.gov.in/WriteReadData/specificdocs/documents/2021/oct/doc202110161.pdf

(MCA GoI, 2018) Ministry of Corporate Affairs, Government of India. Press Release on 15th July 2018; MCA has constituted a 10-Member Committee to review the offences under the Companies Act, 2013. https://pib.gov.in/ PressReleaseIframePage.aspx?PRID=1538673

(MCA GoI, 2019 (1) Ministry of Corporate Affairs, Government of India. Constitution of the Company Law Committee vide order F.No.2/1/2018-CL-V dated 18th September 2019. https://www.mca.gov.in/Ministry/pdf/ ConstitutionCLC_18092019.pdf

(MCA GoI, 2019 (2) Ministry of Corporate Affairs, Government of India. Report of Company Law Committee. https://www.mca.gov.in/Ministry/pdf/CLCReport_18112019.pdf

(MCA GoI, 2021) Ministry of Corporate Affairs, Government of India. Press Release on 3rd February 2021; MCA initiates process of De-criminalisation of compoundable offences under Limited Liability Partnership Act, 2008. https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1694837

(Economic Survey 2018-19) Economic Survey 2018-19 Volume I. Economic Division, Department of Economic Affairs, Ministry of Finance, Government of India https://www.indiabudget.gov.in/budget2019-20/economicsurvey/doc/echapter.pdf

(EODB Ranking 2020) Ease of Doing Business Ranking; Measuring Business Regulations. World Bank – IBRD & IDA https://www.doingbusiness.org/en/data/ exploreeconomies/india