Govt extends tenure of the Company Law Committee by one year

The government has extended the tenure of the Company Law Committee, which was constituted in 2019, by one year.

The term of the panel which was set up by the corporate affairs ministry in September 2019, was extended last year also.

The committee has the mandate for examining and making recommendations to the government on various issues related to implementation of the Companies Act and Limited Liability Partnership Act.

"...the tenure of the company law committee is hereby further extended by one year i.e till 16.09.2023," the ministry said in an order dated September 5.

Currently, an 11-member committee is chaired by corporate affairs secretary Tarun Bajaj.

The committee was constituted as part of the government's efforts to promote ease of living by providing ease of doing business to law abiding corporates, to foster improved corporate compliance for stakeholders at large and to address emerging issues having an impact on the working of companies.

Last year, the ministry had extended the panel's tenure till September 16, 2022.