Economic Buzz: FICCI Welcomes Cabinet's Decision To Amend Companies Act

FICCI welcomed Cabinet's decision to amend the Companies Act, 2013 to decriminalise bona fide defaults under the Act as well as permit Indian companies to list on stock exchanges in foreign jurisdictions. FICCI believes that it will not only increase the competitiveness of the Indian industry, but also render strategic benefits such as improved governance practices, awareness of 'Brand India' and also allow Indian companies to pursue inorganic opportunities abroad. New-age companies will especially benefit through access to a large pool of institutional capital & investors who have deep experience in fast-growing technology sector and keen to invest.

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