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The recently enacted law to amend the Companies Act 2013 received Presidential assent on May 25.
The amendments effected through the Companies (amendment) Act 2015 have come into effect from May 26.
The new amendment law seeks to primarily improve the ease of doing business in India and has factored in the pressing issues and key challenges raised by corporates and professionals.
"The amendments are a great relief to corporates as they go about implementing the new law", said Sai Venkateshwaran, Partner and Head of Accounting Advisory Services, KPMG in India..
However, there are still some areas where corporates continue to have concerns, and the post implementation review of the Act should address these other issues, he said.
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