President of India Ram Nath Kovind has accorded assent to the bill, according to a notification dated September 28.
The bill has now become an Act, the official said.
There will be changes by way of 65 clauses, including amendments to 61 sections of the Companies Act, 2013. Besides, a new chapter related to producer organisation is being introduced in the Act, the official added.
Decriminalisation of various offences and a provision to permit direct overseas listing of Indian corporates are part of the legislation.
Reduction in penalties for certain offences as well as in timeline for rights issues, relaxation in CSR compliance requirements and creation of separate benches at the National Company Law Appellate Tribunal (NCLAT) are also among the amendments.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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