Which committee has been constituted by the Central Government to review Companies Act 2013?
A. Injeti Srinivas Committee
B. Avinash K. Srivastava Committee
C. Raghvendra Singh Committee
D. Sanjay Mitra Committee
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The board of trustees will look at the current compoundable offenses in the Companies Act – 2013 viz.
Offenses culpable with fine just or culpable with fine or detainment or both.
It is likewise required to be viewed regarding whether any non-compoundable offenses culpable with detainment just or culpable with detainment and furthermore with fine under the Companies Act, 2013 might be made compoundable.
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‘The Injeti Srinivas Committee’ has been constituted by the ‘Central Government’ to review the ‘Companies Act 2013’.
Option: A
Explanation:
- The Injeti Srinivas Committee has been constituted by the ‘Ministry of Corporate Affairs’ (MCA).
- It is a ten Member Committee formulated for reviewing the ‘penal provisions’ in the Companies Act, 2013.
- The main objective of the committee is to analyze the de-criminalization of some offenses and to determine methods of replacing them with certain in-house techniques.
- There could be a penalty levied where there is an instance of default.
- The offenses would be punishable and will involve a fine or punishable with fine or imprisonment or both.
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