M&A: Company (Amendment) Bill, 2019: Stricter Norms to Curb Out "Shell Companies"

Recently, Rajya Sabha passed the Companies (Amendment) Bill, 2019 ("Amendment") , which seeks to amend the Companies Act 2013 ("Act") and replace the Ordinance promulgated by the Ministry in February 2019. Amongst, other things one of the notable amendments is the amendment to Section 248 of the Act with an objective to keep a check on "shell companies".