Key Points
The corporate affairs ministry has decided to withdraw 7,338 prosecutions under the companies law that are pending before various courts as part of promoting the ease of doing business..
Another 7,338 prosecutions pending before various courts will be withdrawn under Special Arrears Clearance Drive-II towards promoting ease of doing business and decriminalisation of compoundable offences under Companies Act, 2013, it said in a release on Friday...
Prosecutions related to serious non-compoundable offences such as cheating, fraud, acceptance of deposits, pending charges, etc. have not been considered for withdrawal...
"This decisive step will also unclog the courts as well as foster the growth of corporate sector in India, while maintaining a healthy corporate governance framework," the release said.. (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)..
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MCA to withdraw 7,338 pending prosecutions in second round of a special drive to cut litigations
14, Jul, 23The ministry of corporate affairs (MCA) Friday said it has decided to withdraw 7,338 prosecutions pending before various courts in the second round of a special drive to cut litigations and ensure greater ease of doing business. The move will result in a 21.86% decline in the number of pending prosecutions being pursued by the central government, the ministry said.
Centre approves withdrawal of 7,338 prosecutions pending before various courts
14, Jul, 23The Government’s “Action Plan for Special Arrears Clearance Drives” for reducing the number of pending litigations had previously resulted in the withdrawal of 14,247 prosecutions during the Special Drive-I in the year 2017.