House panel seeks time up to Aug 13 to submit report on corporate laws bill

New Delhi: A joint Parliamentary committee, tasked with vetting the Corporate Laws (Amendment) Bill, 2026, has sought time up to the last day of the current monsoon session of Parliament--August 13--to submit its report.

This means the corporate affairs ministry will likely present a fresh bill for such amendments only in the winter session of Parliament, likely in November-December, after factoring in the panel’s recommendations.

The initial bill was introduced by finance and corporate affairs minister Nirmala Sitharaman in the Lok Sabha in late March to amend laws governing both companies and limited liability partnerships (LLPs).


It was then referred to the joint panel for a detailed scrutiny, as suggested by Sitharaman and endorsed by the House.

On Wednesday, senior BJP leader Sudhir Gupta, who heads the 31-member joint panel, made the request in the Lok Sabha on Wednesday. The House committee was earlier expected to submit its recommendations in the first week of the monsoon session.

Key proposals in the initial bill

The initial bill has proposed to further decriminalise procedural defaults, relax compliance burdens, modernise corporate governance practices, fast-track mergers of certain categories of companies and offer flexible frameworks for corporate social responsibility (CSR) and share buybacks.

It seeks to further empower the National Financial Reporting Authority (NFRA), ensure better audit quality oversight and regulate the valuation profession.

The bill proposes to double the profit threshold for companies to undertake CSR spending to Rs 10 crore to reduce the cost for small companies. Besides, companies having CSR amount up to Rs 1 crore or more need not constitute a corporate social responsibility committee.

The bill also allows multi-disciplinary partnerships for cost and secretarial auditors and eases compliances for alternative investment funds formed as limited liability partnerships.

It introduces a framework for the conversion of specified trusts (registered with the stock markets regulator Sebi or the IFSC) into LLPs, subject to conditions.