India's Ministry of Corporate Affairs withdraws 14,247 prosecutions, decriminalises 63 offences, and introduces small LLP concept to enhance corporate governance and ease of doing business.
India's Ministry of Corporate Affairs (MCA) has taken measures to reduce litigation under the companies law, withdrawing 14,247 prosecutions in 2017 and planning to withdraw 7,338 cases in 2023. The MCA has also decriminalised 63 offences under the Companies and Limited Liability Partnership Acts, and introduced a small LLP concept with reduced compliance costs. The aim is to enhance corporate governance and improve ease of doing business.
July 22, 2024
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