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National News

Jan 04, 2019
9:03PM

Lok Sabha passes Aadhar, Companies Amendment Bill

PTI
The Lok Sabha on Friday passed Aadhaar and other laws (Amendment Bill) 2018 and Companies Amendment Bill 2018.

The Aadhaar Bill seeks to amend the Aadhaar Act, 2016, the Indian Telegraph Act, 1885, and the Prevention of Money Laundering Act, 2002. 

It provides for voluntary sharing of the 12-digit identification number for obtaining new mobile phone connections and opening bank accounts. 

The government move comes in the wake of the Supreme Court’s judgment. 

The Apex court in September last year struck down Section 57 of the Aadhaar Act that made seeding of the biometric ID with SIMs and bank accounts mandatory, stating that it had no legal backing.

The Companies (Amendment), Bill, 2018 replaces the Ordinance promulgated in November last year. 

The Bill amends several provisions in the Companies Act, 2013 related to penalties. It also prescribes strong action against non-compliant companies.

Replying to a debate on the bill in the Lok Sabha, Minister of State for Corporate Affairs P P Chaudhary said, the bill has been brought with a view to declog the Special Courts and National Company Law Tribunal, NCLT.

He said, it will also reduce the burden on NCLT and Special Courts and improve ease of doing business in the country. 
 

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