Nirmala Sitharaman introduces Corporate Laws (Amendment) Bill in Lok Sabha
The Facts
- Finance Minister Nirmala Sitharaman introduced the Corporate Laws (Amendment) Bill, 2026, in the Lok Sabha on Monday.
- The bill seeks to amend the Limited Liability Partnership Act, 2008, and the Companies Act, 2013.
- The Lok Sabha referred the bill to a Joint Parliamentary Committee for detailed scrutiny.
- The referral to the Joint Parliamentary Committee was approved by the Lok Sabha after a voice vote.
- The bill is aimed at improving ease of doing business by simplifying compliance requirements and decriminalising minor offences.
- The bill also seeks to replace certain criminal provisions with civil penalties and reduce compliance burdens for small firms, startups and produce companies set up by farmers.
- Opposition members raised concerns about the bill, including allegations that it could dilute corporate social responsibility provisions.
Context
What laws would the bill change?
The bill is designed to amend two existing laws: the Limited Liability Partnership Act, 2008, and the Companies Act, 2013 Hindustan Times India Today Business Standard.
What is the bill meant to do?
According to the reports, it is intended to make business compliance easier by decriminalising minor offences, replacing some criminal penalties with civil ones, and reducing compliance burdens for smaller businesses and farmer-linked produce companies Hindustan Times Social News XYZ National Herald.
What happened to the bill after introduction?
After it was introduced, the Lok Sabha approved sending the bill to a Joint Parliamentary Committee for a more detailed examination Hindu Asian News Internat… Telangana Today.
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