Corporate Laws (Amendment) Bill, 2026 Tabled in Lok Sabha, Referred to Joint Parliamentary Committee
Finance Minister tables key reforms bill amid Opposition concerns over legislative powers
NEW DELHI: Union Finance Minister Nirmala Sitharaman on Monday introduced the Corporate Laws (Amendment) Bill, 2026 in the Lok Sabha, with the House approving its referral to a Joint Parliamentary Committee (JPC) for detailed scrutiny.
The proposed legislation seeks to amend key provisions of the Limited Liability Partnership Act, 2008 and the Companies Act, 2013, aiming to update regulatory frameworks governing corporate entities.
The introduction comes as Parliament reconvened for the second phase of the Budget session. Sitharaman is also scheduled to move the Finance Bill, 2026, which outlines the Centre’s fiscal roadmap for the upcoming financial year.
During the debate, Manish Tewari opposed the bill, raising concerns about what he termed excessive delegation of legislative powers. He argued that several critical aspects, including compliance norms and corporate governance provisions, were being left to subordinate legislation without sufficient parliamentary oversight.
Meanwhile, Prime Minister Narendra Modi is expected to address the Lok Sabha later in the day, focusing on India’s stance on the ongoing West Asia situation.
On Sunday, Modi chaired a meeting of the Cabinet Committee on Security to review global developments and assess their potential impact on key sectors such as agriculture, energy, trade, and supply chains.
The JPC is expected to examine the proposed amendments in detail and submit its recommendations, which will play a crucial role in shaping the final version of the legislation.
