Suggestions include omitting provisions relating to forward dealing, insider trading.
- The Companies Law Committee — constituted in June 2015 to make recommendations on the issues related to implementation of the Companies Act, 2013.
- The recommendations including definitions, raising of capital, accounts and audit, corporate governance, managerial remuneration, companies incorporated outside India and offences/ penalties.
- Some key changes proposed are regarding managerial remuneration to be approved by shareholders.
- The modification of definition of associate company and subsidiary company.
- Companies may give loans to entities in which directors are interested after passing special resolution and adhering to disclosure requirement.
- Auditor will report on internal financial controls with regard to financial statements.