In firm commitment towards its objective of promoting Ease of Doing Business and in furtherance of decriminalisation of compoundable offences under the Companies Act, 2013, the Central Government through the Ministry of Corporate Affairs (MCA) has taken a decision under its Special Arrears Clearance Drive-II to withdraw another 7,338 prosecutions, which have remained pending before various courts.
The cases being withdrawn under the Special Drive-II are corollary to the amendment brought out by the Government vide the Companies (Amendment) Act, 2020 for decriminalisation of offences under the Companies Act, 2013 to facilitate the smooth functioning of businesses as well as minimise lengthy litigations before courts.