Govt introduces Companies (Amendment) Bill in LS

(UNI) The Government introduced the Companies (Amendment) Bill, 2018 which seeks to amend the Companies Act, 2013, in the Lok Sabha on Thursday.

Union Finance Minister Arun Jaitley introduced the Bill that seeks to replace the Companies (Amendment) Ordinance, 2018 which was promulgated by President Ram Nath Kovind on November 2.

The Bill provides to amend clause (41) of section 2 of the Companies Act, 2013 so as to empower the Central Government to allow certain companies to have a different financial year instead of as determined by the Tribunal.