Bill to decriminalise certain offences under Companies Act cleared

The members demanded either constitution of a Joint Parliamentary Committee or referring the 65-clause Bill to the Department-related Standing Committee for in depth examination and drafting a proper legislation.

Seeking leave for introduction of the Bill, Minister of State for Finance Anurag Thakur rejected the charge that decriminalisation of certain offences would help corporates and said this was being done with a view to improve the ease of doing business and provide a conducive atmosphere for investment.

Raising objections to the introduction of the Bill, BJD member Bhatruhari Mahtab raised a question whether it was an opportune time for decriminalising offences at a time when Yes Bank had failed and many companies were facing problems because of the activities of promoters.

“Will this not encourage such delinquent people to indulge in such things,” he asked and demanded a JPC to go into the Bill for a comprehension examination.