Government relaxes norms to boost ease of doing business
The Dollar Business Bureau In order to foster ease of doing business in India, the government notified the relaxation of norms under the Companies Act 2013 for private and public companies. For private companies, the Ministry of Corporate Affairs has relaxed the provision from entering into related party transactions. Moreover, companies can also provide a shorter period for offering securities to members through right offers and approve the issue of employee stock option plans through a simple majority and allow an easier procedure and flexibility in holding general meeting, said the ministry in a press release today. Private firms have been allowed to accept deposits from members without the requirement of offer circular and creation of a deposit repayment reserve, etc. The ...
