The Corporate Laws (Amendment) Bill, 2026, has been referred to the Joint Parliamentary Committee (JPC) for further review. Following its introduction in the Lok Sabha today, Union Finance Minister Nirmala Sitharaman proposed sending the bill to the JPC for a detailed analysis.
The House gave its approval to refer the bill to the Joint Committee. The bill aims to amend the Limited Liability Partnership Act, 2008, and the Companies Act, 2013. Earlier, before its introduction, opposition members, including Congress MP Manish Tewari, Sougata Ray of TMC, and Dr. T. Sumathy of DMK, opposed the bill.
They alleged that the proposed legislation weakens the provisions of Corporate Social Responsibility. Responding to their concerns, Nirmala Sitharaman stated that the proposed amendment will not only attract more investments but also facilitate corporate governance.
She highlighted that this legislation has been brought after two years of thorough deliberation. Mrs. Sitharaman said that the opinions of representatives from industry chambers, professional institutes, legal and accounting experts, and the public were taken and examined.
