Context: Lok Sabha referred the Corporate Laws (Amendment) Bill, 2026 to a Joint Parliamentary Committee (JPC) for detailed examination.
Key Facts:
- Bill: Seeks to decriminalise minor corporate offences and rationalise penalties to improve ease of doing business
- Amends: Companies Act, 2013 and Limited Liability Partnership (LLP) Act, 2008
- Companies Act, 2013: Governs incorporation, regulation, and governance of companies; replaced Companies Act, 1956
- CSR Rules: Mandatory 2% of average net profits (last 3 years) for eligible companies
- CSR Applicability: Net worth ≥ ₹500 crore OR turnover ≥ ₹1000 crore OR net profit ≥ ₹5 crore
- Amendment Concern: Changes in net profit calculation may affect CSR compliance
- JPC: Temporary parliamentary committee with members from Lok Sabha and Rajya Sabha
- Role of JPC: Conducts detailed scrutiny of bills and submits recommendations
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