Decriminalisation of Corporate Offences in India Leading to Ease of Doing Business in the Backdrop of Amrit Mahotsav

Authors

  • Mitrendu Narayan Roy Assistant Professor of Commerce, Goenka College of Commerce and Business Administration & Guest Faculty, Department of Commerce, University of Calcutta, Kolkata
  • Siddhartha Sankar Saha Professor of Commerce, Department of Commerce, University of Calcutta, Kolkata

DOI:

https://doi.org/10.33516/maj.v57i2.52-57p

Keywords:

No Keywords.

Abstract

This article explores the impact of decriminalisation of certain offences brought about by the Companies (Amendment) Act, 2020. A total of 48 amendments have been made to decriminalise certain offences under the Companies Act, 2013. Since the maximum numbers of amendments have been in Chapter IV titled, ‘Share Capital and Debenture’, the Chapter has been selected as a special reference for the comparative analysis between the Act and its 2020 Amendments. It is observed that decriminalisation under this Chapter encompasses all the four major forms of decriminalisation. While decriminalisation is a welcome move to boost business sentiment in the backdrop of the Covid-19 global financial crisis, it may have varied impacts on different stakeholder communities. Such a move may also provoke unscrupulous companies to commit fraud in future.

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Published

2022-02-10

How to Cite

Roy, M. N., & Saha, S. S. (2022). Decriminalisation of Corporate Offences in India Leading to Ease of Doing Business in the Backdrop of Amrit Mahotsav. The Management Accountant Journal, 57(2), 52–57. https://doi.org/10.33516/maj.v57i2.52-57p

Issue

Volume 57, Issue 2, February 2022

Section

Cover Story
Crossref
Scopus
Google Scholar
Europe PMC

References

Chitravanshi, R. (2020, September 21). Government Decriminalises Companies Act to Promote Greater Ease of Doing Business. Business Standard.

Kumar, V. (2020). Companies (Amendment) Bill 2020: Decriminalisation, Delegation and Relaxation. Taxmann.com 58 (Article).

Ministry of Corporate Affairs (MCA) (2019). Report of the Company Law Committee on Decriminalisation of Companies Act 2013.

Ministry of Law and Justice (MLJ) (2019). Companies (Amendment) Act 2019.

MLJ (2013). Companies Act 2013.

MLJ (2020). Companies (Amendment) Act 2020.

Nair, D. and Sahni, V. (2020, April 9). Why is it Necessary to Decriminalise Offenses under the Companies Act to Help Businesses? The Indian Express.

Nair, D. and Sahni, V. (2020, July 29). Decriminalisation of Companies Act: Decoding the COVID Economic Relief. Economic Times.

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