Co Law-2020 to usher in revolutionary changes: CA Atul Kumar

Jamshedpur, Jharkhand, Kolhan No Comments on Co Law-2020 to usher in revolutionary changes: CA Atul Kumar 82

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Jamshedpur, Sept 18: “The ministry of Corporate Affairs has taken various steps to lessen the burden experienced during the pandemic in a manner that has made keeping abreast and following norms have been simplified. With these changes it may be expected that the Companies (Amendment) Act – 2020 will usher in revolutionary changes,” observed main speaker Chartered Accountant Atul Kumar of Kolkata.

Atul Kumar was speaking during a webinar organized by the Jamshedpur branch of Institute of Chartered Accountants of India (ICAI) which was webcast to more than 150 CA members of the city. The meeting was presided by Jamshedpur CA Harshit Mittal.

In his address, Atul Kumar stated that with the introduction of the Companies’ amendment Act, there was bound to be allround progress in the corporate scenario. He said, “The government has taken into minute account all aspects like income tax, GST, company law, SEBI and others. It has slackened the rules in these realms in order to provide space during the pandemic period so that business can function without tensions. It will now be easier for traders, industrialists and professionals to pursue their activities in a much easier manner.”

Kumar further stated that in view of health concerns, the government has expanded the territory of CSR of corporates and included measures like sanitary provisions, cleanliness et al by adding up the expenses to fit such activities necessitated for the prevention of the spread of COVID-19.

“The government, in addition has made a move towards paperless transactions. In case of private limited companies, the corporates have been asked to open Demat accounts and to transact all transactions related to fee payment on share transfer and stamp duty so that they come under the purview of technology based processes,” Atul Kumar averred.

The webinar was anchored by ICAI Jamshedpur secretary Sugam Saraiwala. The welcome address was delivered by Jamshedpur chairman CA Sanjay Goyal while the vote of thanks was offered by CA Siddharth Khandelwal. The organizing team for the webinar comprised Chartered Accountants Vikas Agrawal, Pankaj Shingari, Binod Saraiwala, Yogesh Sharma and others.

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