Parliamentary panel holds clause-by-clause examination of Corporate Laws Amendment Bill
New Delhi, July 16
The Joint Parliamentary Committee examining the Corporate Laws Bill, 2026, is working to present its report during the upcoming Monsoon Session of Parliament, with Committee Chairperson Sudheer Gupta on Thursday saying the panel is maintaining the pace of its deliberations to complete the exercise.
Speaking to ANI after a meeting of the committee, Gupta said there was a broad expectation that the panel should complete its work at the earliest to facilitate reforms for businesses.
"As the country's sentiment is that this committee should complete its work soon, so that the people who want to develop their companies and systems in the development of the country get a good chance. So we are working with that preparation," Gupta told ANI.
Asked if the committee was likely to submit its report during the Monsoon Session, he said, "Our attempt is that we will keep it and we are able to do it at the same speed."
On the progress of the committee's work, Gupta said members were continuing with a clause-by-clause examination of the Bill.
As per the committee's schedule, Thursday's meeting was about the oral evidence of representatives of the Ministry of Corporate Affairs, followed by the continuation of the clause-by-clause examination of the Corporate Laws (Amendment) Bill, 2026, with ministry officials.
The committee has been holding consultations with a wide range of stakeholders before finalising its recommendations. It has heard the views of representatives from the Department of Financial Services, Reserve Bank of India, Insurance Regulatory and Development Authority of India (IRDAI), Department of Revenue, Central Board of Direct Taxes (CBDT), Central Board of Indirect Taxes and Customs (CBIC), Ministry of Electronics and Information Technology, NITI Aayog and the Insolvency and Bankruptcy Board of India (IBBI).
It has also consulted industry bodies, including the Bharat Web3 Association, India Blockchain Forum, India Blockchain Alliance, Confederation of Indian Industry (CII), Federation of Indian Chambers of Commerce and Industry (FICCI), PHD Chamber of Commerce and Industry, legal experts and academic institutions. During its visit to Mumbai, the panel interacted with over 40 stakeholders, including SBI, BSE and NSE.
According to the committee's schedule, it will reconvene on Friday to continue the clause-by-clause examination of the Bill with officials from the Ministry of Corporate Affairs before holding its internal deliberations later in the day.
— ANI
Reader Comments
Finally some momentum on corporate law reforms! India needs to simplify compliance for startups and small businesses. The fact that they're consulting Web3 associations shows they're thinking about the future. But I'm cautiously optimistic—past reforms have sometimes created more paperwork instead of less. 🤞
As someone who runs a small manufacturing unit, I hope these changes genuinely ease the burden on MSMEs. The current compliance requirements are a nightmare—we spend more time on filing forms than on actual production. Involvement of RBI and IRDAI is promising, but let's see what actually comes out of this.
Impressive stakeholder consultation—RBI, CBDT, IBBI, plus industry bodies and even a blockchain forum. That's comprehensive input. I hope the committee balances innovation with investor protection. India's corporate governance standards have improved significantly, and we shouldn't compromise that in the name of ease of doing business.
I appreciate the bipartisan effort here, but I'm a bit skeptical. How many times have we heard "reforms are coming" only to get tepid changes? The fact they're consulting Web3 and blockchain groups is a welcome surprise though. India needs to become a hub for crypto and blockchain innovation without stifling it. Let's hope this isn't just another committee that produces a report that gathers dust.
Good that they're consulting multiple ministries—MCA, Finance, IT, NITI Aayog, and even the insurance regulator. Corporate law touches everything. My only concern is that the bill might become too complex with so many inputs. Keep it simple and implementable.
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