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SUMMARY OF COMPANIES AMENDMENT BILL, 2017

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SUMMARY OF COMPANIES AMENDMENT BILL, 2017 This Bill shall be called Companies Amendment Bill, 2017, enacted in the 68 th year of the Republic of India. The Companies (Amendment) Bill, 2017 introduced in Lok Sabha on 16 th March, 2016 as the Companies (Amendment) Bill, 2016, was referred to Standing Committee. The government after considering the suggestions of the Committee gave notice of amendment as approved by the Cabinet to the Lok Sabha. The Lok Sabha has passed the Company (Amendment) Bill, 2017 on 27 th July, 2017. Geist of the Amendment made in Companies Amendment Bill, 2016 and further amendment suggested in Companies Act, 2013 are summarized below: Section Companies Act, 2013 Companies Amendment Bill, 2016 Companies Amendment Bill, 2017 2(72) Public Financial Institution Provided that no institution shall be so notified unless— (A) it has been established or constituted by or under any Centr