<span style="color: #222222;">Parliament has passed the Companies (Amendment) Bill, 2019, with the Rajya Sabha approving it today. The Lok Sabha has already passed the bill. <br />''<br />''The Bill seeks to amend the Companies Act, 2013. It aims to tighten Corporate Social Responsibility-CSR compliance, transfer certain responsibilities to National Company Law Tribunal and recategorise certain offences as civil offences. <br />''<br />''The legislation has the provision that any unspent annual CSR funds must be transferred to one of the funds under Schedule 7 of the Act like Prime Minister's Relief Fund within six months of the financial year. <br />''<br />''The bill also seeks to empower Registrar of Companies to initiate action for removal of a company's name if the latter is not carrying out business activities as per the Act. The bill will replace the ordinance promulgated earlier in this regard. <br />''<br />''Replying to the debate on the bill, Finance and Corporate Affairs Minister Nirmala Sitharaman said, the bill will ensure ease of doing business for companies effectively. <br />''<br />''She said, four lakh shell companies have been de-registered and now it has been made mandatory that a company while carrying out business should have a physical address and physical maintenance of a register.<br />''<br />''Members from Congress, BJD, AIADMK and others participated in the discussion.  </span><br />