Parliament passes Companies (Amendment) Bill

NEW DELHI: Parliament on Tuesday approved the Companies (Amendment) Bill which seeks to tighten CSR norms and ensure stricter action for non-compliance of the company law regulations.

The legislation was passed in the Rajya Sabha with voice vote. Lok Sabha had passed the bill on July 26.

Finance and Corporate Affairs Minister Nirmala Sitharaman said the Government has brought in all the provisions of the

ordinance and has also added new amendments in the bill.

A key change in the bill pertains to Corporate Social Responsibility (CSR) spending, wherein companies would have to

mandatorily keep unspent money in a special account. (AGENCIES)