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Government eases Company Act, big relief for startups

Government's Rs 20 lakh crore economic stimulus package on 17thMay, 2020, the Union Finance Minister Nirmala Sitharaman announced the decision to bring in an Ordinance to decriminalize various sections of the Companies Act which was approved by the Cabinet in the first week of March. This reform lowers the stress on National Company Law Tribunal which is presently over-burdened.