Finance Minister Nirmala Sitharaman introduced the Corporate Laws (Amendment) Bill, 2026 in the Lok Sabha, which was sent to a Joint Parliamentary Committee for review, while the Opposition raised concerns over excessive delegation of powers
-1774252564316_d.png "FM Nirmala Sitharaman tables Corporate Laws Amendment Bill in Lok Sabha, sent to JPC")
Union Finance Minister Nirmala Sitharaman speaks in Lok Bhavan. PIC/PTI
Union Finance Minister Nirmala Sitharaman on Monday introduced the Corporate Laws (Amendment) Bill, 2026 in the Lok Sabha, according to the ANI.
The bill aims to make further changes to key corporate regulations in India, including the Limited Liability Partnership (LLP) Act, 2008 and the Companies Act, 2013.
Soon after its introduction, the Lok Sabha passed a motion to refer the bill to a Joint Parliamentary Committee (JPC) for detailed examination. This step allows lawmakers to study the bill more closely before it is taken up for final approval, as per the ANI.
The development comes as the second phase of the Budget session of Parliament resumes. This session is expected to focus on key legislative and financial matters, including reforms that could impact multiple sectors of the economy.
What the bill aims to do
The Corporate Laws (Amendment) Bill, 2026 seeks to update existing laws governing companies and LLPs. These laws play a crucial role in regulating how businesses operate in India. The amendments are expected to simplify compliance and improve the ease of doing business, although detailed provisions will be examined by the JPC.
Alongside this bill, the Finance Minister is also set to present the Finance Bill, 2026, which outlines the government’s financial plans for the 2026-27 fiscal year.
Opposition raises concerns
The introduction of the bill was not without criticism. Manish Tewari from the Indian National Congress opposed the move, raising constitutional concerns.
He argued that the bill allows “excessive delegation” of legislative powers to the executive. According to him, important issues such as classification of companies, compliance rules, corporate social responsibility (CSR) thresholds, audit requirements, and penalty frameworks are left to be decided later through subordinate legislation, the news agency reported.
Tewari said this could violate constitutional provisions under Articles 245 and 246, as it reduces Parliament’s direct role in shaping key policy decisions.
PM Modi to address Lok Sabha
Prime Minister Narendra Modi is scheduled to address the Lok Sabha later in the day. His speech is expected to focus on the ongoing conflict in West Asia and India’s position on the issue.
A day earlier, the Prime Minister chaired a meeting of the Cabinet Committee on Security to review the global situation. Officials discussed the possible impact of the conflict on various sectors such as agriculture, fertilisers, food security, petroleum, power, MSMEs, exports, shipping, and supply chains.
Government reviews economic impact
During the meeting, the Cabinet Secretary presented an overview of the global situation and the steps taken by different ministries to reduce risks. The government also reviewed the country’s overall macroeconomic condition and discussed further measures to ensure stability.
The ongoing geopolitical tensions are being closely monitored due to their potential impact on India’s economy and trade.
(With ANI Inputs)
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