Companies (Amendment) Bill, 2019 introduced in Lok Sabha


New Delhi: A view of the Lok Sabha during the Budget Session of Parliament (PTI photo)

New Delhi: A view of the Lok Sabha during the Budget Session of Parliament (PTI photo)

A bill to replace the Companies (Amendment) Ordinance, 2019 was introduced in Lok Sabha on Thursday, a move strongly opposed by the opposition claiming the government has been trying to enact the law in haste.

As soon as Finance Minister Nirmala Sitharaman rose to introduce the Bill, to replace the ordinance promulgated in February, TMC member Saugata Roy said MPs had no prior information of the proposed legislation and urged Speaker Om Birla to direct the government to reintroduce it on Friday.

“You are the supreme authority. You should not allow this to happen,” Roy told the Speaker.

Sitharaman said the bill has been a necessity as the government had promulgated an ordinance on the subject twice in the past — in November 2018 and February 2019.

“A bill to replace the first ordinance was passed in Lok Sabha in January 2019 but could not get through in Rajya Sabha. Hence the second ordinance was promulgated in February.

This bill has been brought to replace the second ordinance. We are not bringing the bill in haste,” she said.

The finance minister said the government was following the best practice by adopting the legislative route to enact the law.

The Speaker said that he has already given a ruling that at least two days prior notice should be given to the MPs before the introduction of any bill from the next session.

Birla allowed the finance minister to introduce the bill, which she did accordingly.