Cabinets clears amendments to key bills including Companies Act, comprehensive legislation on hijacking

NEW DELHI: The Union Cabinet on Tuesday cleared four bills that are likely to be introduced in Parliament during the current session, including a comprehensive legislation against highjacking, which provides for death in extreme cases, and amendments to the Companies Act to make life simpler for the corporate sector.

In addition, bill to replace the ordinance for auction of coal mines following a Supreme Court order cancelling blocks and amendments to the Regional Rural Banks (RRBs) Act were approved by cabinet. The Anti-Hijacking Bill provides for death in cases of death of a hostage or of a security personal, or with imprisonment for life with the moveable and immoveable property of such persons shall also be liable to be confiscated.

The cabinet also approved the signing of the treaty on transfer of sentenced persons between India and Qatar. This will facilitate Indian prisoners imprisoned in Qatar or vice-versa to be near their families, for serving the remaining part of their sentence and shall facilitate their social rehabilitation.

Separately, the cabinet cleared projects for widening of three highways which is estimated to cost Rs 3,873 crore. The projects under PPP mode will include 126 km of the Lucknow-Sultanpur section of NH-56 in Uttar Pradesh, 104 kms on the Singhara-Binjabahal section in Odisha and the Nagina-Kashipur section of NH- 74 in Uttarakhand and Uttar Pradesh.

The amendments to Companies Bill are aimed at addressing issues raised by stakeholders such as chartered accountants and professionals. It seeks to omit requirement for minimum paid up capital.

The proposed changes in the RRBs Act will enhance authorized and issued capital to strengthen capital base of regional rural banks and to bring flexibility in the shareholding between Central government, state government and sponsor bank, an official statement said.