President promulgates the Companies (Amendment) Ordinance, 2019, repealing the Companies (Amendment) Ordinance, 2018
According to a recent publication in the gazette, dated 12th January, 2019, by the Ministry of Law and Justice ,the Companies (Amendment) Ordinance 2018 (“2018 Ordinance”) will cease to operate on 21st January, 2019. The Bill to amend Companies Act which was replacing the 2018 Ordinance is pending ratification by the Rajya Sabha and the parliament is also not in session. So, the President of India considering it necessary to give continued effect to the 2018 ordinance, promulgated the Companies (Amendment) Ordinance, 2019(“2019 Ordinance”) repealing the 2018 Ordinance.
The 2019 Ordinance will be deemed to have been in force since 2nd November, 2018 and has the same highlights/changes proposed in the 2018 Ordinance.
Source: Ministry of Law and Justice