The Joint Committee scrutinising the Corporate Laws (Amendment) Bill, 2026, is working diligently to submit its report during the upcoming Monsoon Session of Parliament, according to Committee Chairperson Sudheer Gupta. Speaking on Thursday, Gupta confirmed that the panel is holding back-to-back meetings to finalise its recommendations.
Stakeholder Consultations Underway
The committee has already heard views from key financial and regulatory bodies, including the Department of Financial Services, the Reserve Bank of India, the Insurance Regulatory and Development Authority of India, the Department of Revenue, the Central Board of Direct Taxes, and the Central Board of Indirect Taxes and Customs. Additionally, inputs were gathered from the Ministry of Electronics and Information Technology, Niti Aayog, and the Insolvency and Bankruptcy Board of India.
In the coming sessions, the panel will engage with representatives from the Bharat Web3 Association, India Blockchain Forum, India Blockchain Alliance, Confederation of Indian Industry, Federation of Indian Chambers of Commerce and Industry, and PHD Chamber of Commerce and Industry. Small industry bodies such as Laghu Udyog Bharati and the National Small Industries Corporation, along with legal experts from National Law School of India University, National Law University Delhi, NALSAR University of Law, and several law firms, are also scheduled to present their views.
Key Provisions of the Bill
The Corporate Laws (Amendment) Bill, 2026, aims to decriminalise various procedural defaults under the Companies Act and the Limited Liability Partnership Act by replacing criminal provisions with civil penalties. It also seeks to simplify mergers and amalgamations by rationalising approval thresholds for fast-track mergers and enabling applications before a single bench of the National Company Law Tribunal having jurisdiction over the transferee company.
Additionally, the bill provides relaxations for small companies, including exemption from mandatory Corporate Social Responsibility requirements and reduced auditor appointment mandates for a prescribed class of small companies, along with lower additional fees.
Mumbai Consultations and Next Steps
Gupta noted that during the committee's visit to Mumbai, it heard from over 40 stakeholders, including the State Bank of India, BSE, and the National Stock Exchange. “We are continuously holding discussions with the stakeholders and took their opinions. We will try to present the report during the monsoon session. Clause-by-clause discussions will be held,” he said.
The committee's report is expected to provide detailed recommendations on the bill, which aims to ease business compliance while maintaining regulatory oversight.
