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Vol. 12 Issue 5.1 May 14, 2015
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Rajya Sabha clears Companies (Amendment) Bill, 2014
Companies (Amendment) Bill, 2014 (“Bill”), which was introduced in the Indian
parliament on December 12, 2014, had proposed certain amendments to
Companies Act, 2013 (“Co Act”) in an effort to enhance ease of doing business in
India, and also, addressing certain aspects which were inadvertently missed in the
principle legislation. The amendments, based on stakeholder feedback, primarily
related to provision governing Related Party Transactions, fraud reporting by
auditors, dividend payments, common seal, and jurisdiction of special courts to try
certain offences.
The Bill was cleared by the Lok Sabha (lower house of the Indian Parliament) on
December 17, 2014. We had covered important aspects of the Bill in our update of
December 23, 2014. This update is meant to inform that the Bill, as approved by the
Lok Sabha, has now been cleared by the Rajya Sabha (lower house of the Indian
Parliament), and is expected to become law shortly.
With the passage of the Bill, the Finance Minister also announced that a panel to
examine other changes required in the Co Act shall be constituted shortly. One
would hope that other aspects needing attention, especially those relating to private
companies, are also looked at and addressed by this panel expeditiously.
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Getting The Deal Through: Tax on
Inbound Investment 2015
Managing Tax Disputes in India
Taxand’s Global Guide to M&A Tax 2013
BMR Advisors rated Tier 1 firm,
International Tax Review, World Tax
Guide 2015 for the eighth consecutive
year
BMR Advisors ranked Tier
1 for Transactional and M&A
Tax excellence by International Tax
Review annual Transactional Tax
Survey 2014.
BMR Advisors has been ranked
number one (by deal count) most
active transaction advisor for Private
Equity, M&A in India for the year
2013 by Venture Intelligence.
Vivek Gupta, New Delhi
+91 124 669 5052
Rajendra Nalam, Mumbai
+91 22 6135 7066
Kalpesh Maroo, Bangalore
+91 80 4032 0090
Kalpesh Desai, Mumbai
+91 22 6135 7015
Siddharth Sehgal
BMR Business Solutions Pvt. Ltd.
36B, Dr. RK Shirodkar Marg, Parel, Mumbai 400012, India
Tel: +91 22 6135 7000 | Fax: +91 22 6135 7070
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Disclaimer:
This newsletter has been prepared for clients and Firm personnel only. It provides general information and guidance as on date of
preparation and does not express views or expert opinions of BMR Advisors. The newsletter is meant for general guidance and no
responsibility for loss arising to any person acting or refraining from acting as a result of any material contained in this newsletter will be
accepted by BMR Advisors. It is recommended that professional advice be sought based on the specific facts and circumstances. This
newsletter does not substitute the need to refer to the original pronouncements.
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