Cabinet approves 72 changes amending Companies Act

New Delhi, March 4 Union Finance Minister Nirmala Sitharaman on Wednesday said the Cabinet has approved 72 changes amending 65 sections of the Companies Act, to decriminalise these sections.

Sitharaman said 33 offences to be the categorised out of 66 compoundable offences to be fit for in-house adjudication.

The Cabinet also also removed seven compoundable offences. The Cabinet limited punishment for 11 compoundable offences to fines while removing imprisonment.

The law has become more humane now, she said.