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THE COMPANIES (AMENDMENT) BILL 2015 - A BILL to amend the Companies Act 2013.

Corporate Laws / Banking / SEBI / LLP - By: - Deepak Aggarwal - Dated:- 26-5-2015 - Proposed Amendments in Companies Act, 2013 (Changes are suggested on industry demand / to facilitate ease of doing business / to remove difficulties / to mitigate inadvertent left out provisions in Companies Act, 2013) Elimination of minimum paid up share capital requirement - In case of Private and Public company by amendment in clauses (68), (71) of section 2 and section 11 of the said Act. Common seal now ma .....

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on of Board resolutions filed in the Registry. Mandatory requirement to set-off past losses / depreciation before declaring dividend - By amendment sub-section (1) of section 123 of the said Act to include provisions for writing off past losses/depreciation before declaring dividend for the year. Rectification in requirement of transferring equity shares for which unclaimed dividend transferred to IEPF - By amendment in sub-section (6) of section 124 of the said Act for rectifying the requirem .....

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d to the Audit Committee). Disclosures for the latter category also to be made in the Board s Report. Related party Transactions - By amendment in clause (iv) of sub-section (4) of section 177 of the said Act to provide provision empowering Audit Committee to give omnibus approvals for related party transactions on annual basis. Loan / Guarantees given by Holding company to Subsidiaries exempt from requirement of section 185- By amendment in section 185 of the said Act to provide for exemption .....

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