Companies (Amendment) Act, 2017 has inserted a new Section 3A after Section 3 in the Act (Companies Act) which is in an addition in the law and states about the Liability of Members in certain Cases.
Implication of Amendment in the definition of Associate Company as per Companies (Amendment) Act, 2017
Companies (Amendment) Bill, 2017 was introduced in Lok Sabha on March 16, 2016 then the Bill was referred to the Standing Committee on Finance on 12 April, 2016 and Committee after hearing the views of different representatives and professionals adopted its report on 30th November, 2016.
