New Delhi [India], March 23 : Union Finance Minister Nirmala Sitharaman on Monday introduced the Corporate Laws (Amendment) Bill, 2026 in the Lok Sabha.
The Lok Sabha adopted a motion to send the bill to a Joint Parliamentary Committee (JPC) for detailed examination. The bill seeks further amendments to the Limited Liability Partnership Act, 2008, and the Companies Act, 2013.
The move comes as the second leg of the Budget session of Parliament resumes. Alongside the Corporate Laws (Amendment) Bill, the Finance Minister is also slated to move the Finance Bill, 2026, which outlines the financial proposals of the Central Government for the 2026-27 fiscal year, for consideration.
During the proceedings, Indian National Congress (INC) MP Manish Tewari opposed the introduction of the bill, raising concerns over what he described as "excessive delegation of essential legislative functions."
"The bill suffers from excessive delegation of essential legislative functions in violation of settled constitutional doctrine under Article 245 and 246. Core policy matters such as classification of company's, such as exumptions, determination of compliance requirements, threshold for corporate social responsibility, audit obligations and penalty frameworks are left to subordinate legislation through repeated use as may be prescribed provisions without adequate legislation guidance," he said.
Meanwhile, Prime Minister Narendra Modi will address the Lok Sabha at 2 PM today amid the ongoing budget session of Parliament, outlining key aspects of the ongoing West Asia conflict and India's position on the matter.
On Sunday, PM Modi chaired a meeting of the Cabinet Committee on Security to review the situation, the ongoing and proposed mitigating measures in the context of the ongoing West Asia Conflict.
According to the Prime Minister's Office, the Cabinet Secretary gave a detailed presentation on the global situation and the mitigating measures taken so far and being planned by all concerned Ministries/Departments of the Government of India.
The expected impact and measures taken to address it across sectors like agriculture, fertilisers, food security, petroleum, power, MSMEs, exporters, shipping, trade, finance, supply chains and all affected sectors were discussed. The overall macro-economic scenario in the country and further measures to be taken were also discussed.
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