Sweeping Changes Suggested For The Companies Act By Panel

The suggested changes for the Companies Act, 2013, are expected to make it easier for companies to raise funds and ensure that shareholder democracy does not cripple the functioning of firms and businesses.

It also wants companies being allowed to give loans to entities in which directors are interested after passing special resolution and adhering to disclosure requirement.

The restriction on layers of subsidiaries and investment companies, which has been sought to be removed, has been a major irritant for corporate India.

It also proposed easing regulations managerial remuneration and removal of the restriction on layers of subsidiaries and investment companies.

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