Sl No. Section Name Before Amendment After Amendment Effective Date Remarks
1. 2(52)

(Definition of listed company)

Listed company means a company which has any of its securities listed on any recognised stock exchange New proviso has been added to exclude such class of companies which have listed or intend to list such class of securities in consultation with SEBI shall not be considered as listed companies 22/01/2021

Companies (Amendments) Acts, 2020

Rules regarding the same is not yet framed
2. 62 (1) (a) (i)

(Further issue)

In case of further issue of share capital through right issue the offer letter shall be open for a period not being less than 15 days Amendments has been made to reduce the offer period less than 15 days as may be prescribed. 22/01/2021

Companies (Amendments) Acts, 2020

Now right issue can be completed in lesser period as compared to the time taken before amendments
3. 89

(Beneficial Interest)

No such Provision Addition of new sub-section 11 after sub-section 10 to empower the central government to exempt any class or classes of persons from complying with any of the requirements of this section except sub-section 10 whether unconditionally of subject to such conditions as may be prescribed in the notification 22/01/2021

Companies (Amendments) Acts, 2020

Power to Central Govt. to grant exemption
4. 117

(Resolutions & agreements to be filed)

Not applicable to banking company in respect of resolution passed to grant loans, or give guarantee or provide security in respect of loans u/s 179(3)(f) in the ordinary course of business Now the same exemption has been provided to any class of NBFCs registered under Chapter IIIB of RBI Act, 1934 and Housing Finance Company registered under the NHB Act, 1987 22/01/2021

Companies (Amendments) Acts, 2020

5. 129A

(Periodical Financial Results)

No such provision Newly inserted to require such class or classes of unlisted companies as may be prescribed to prepare financial results on such periodical basis and in such form as may be prescribed 22/01/2021

Companies (Amendments) Acts, 2020

Rules regarding the same is yet to be framed.
6. 135

(Corporate Social Responsibility)

No such provision for carry forward of excess amount spent in a financial year towards CSR Proviso inserted in sub-section 5 for carry forward of excess CSR amount spent during a financial year to such number of succeeding financial year in such manner, as may be prescribed 22/01/2021

Companies (Amendments) Acts, 2020

Carry forward and set-off of excess amount spent during a financial year under CSR
7. 135 Penalty includes imprisonment New sub-section (7) has been substituted to stringent the penalty amount but no imprisonment. But the penalty amount is much higher for default in sub-section 5 & 6 22/01/2021

Companies (Amendments) Acts, 2020

De-criminalisation in case of default in CSR provision
8. 135 No such provision Non-applicability of constitution of CSR Committee where the amount to be spent does not exceed Rs. 50 lakhs and the function of CSR Committee shall be discharged by Board of Directors of such company. 22/01/2021

Companies (Amendments) Acts, 2020

Relaxation in formation of CSR Committee
9. 135 Company to spend 2 % of average net profits of the company made during the three immediately preceding financial years Provision added for calculation of 2 % of average net profits of a company which has not completed three financial years since its incorporation. Such company needs to calculate 2% of average net profits during such immediately preceding financial years. 22/01/2021 Companies (Amendments) Acts, 2019 Calculation of average net profits
10. 135 No such provision Transfer of unspent amount of an ongoing project to be transferred to a special account called Unspent CSR Account for that financial year within 30days of end of the financial year and spent such amount towards CSR within three financial year and failing which the same shall be transferred to a Fund specified in Schedule VII, within a period of 30 days from the date of completion of the third financial year. 22/01/2021 Companies (Amendments) Acts, 2019 Transfer of unspent amount of CSR

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April 2021