Through a press release dated 17 March, the Ministry of Corporate Affairs has proposed amendments to provisions relating to the incorporation of new companies under the Companies Act, 2013. [ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”3″ ihc_mb_template=”2″ ]The changes deal with: (i) name reservation; (ii) contents of the memorandum; and (iii) substitution of the requirement for an affidavit at the incorporation stage.
The proposed changes follow a standing committee report to parliament in December 2016 on a bill to amend the Companies Act.
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