LS refers Corporate Laws Bill to JPC
Finance Bill tabled | FM rejects CSR dilution charge, pushes reform agenda
image for illustrative purpose
New Delhi: The Lok Sabha on Monday referred the Corporate Laws (Amendment) Bill, 2026, to a Joint Parliamentary Committee (JPC) for detailed scrutiny, even as Finance Minister Nirmala Sitharaman tabled the Finance Bill, 2026, in the House.
The Corporate Laws Bill was sent to the JPC following a voice vote after Sitharaman proposed wider consultations. The move came amid strong opposition from members including Manish Tewari, Saugata Roy and T Sumathy, who alleged that the proposed amendments could dilute provisions mandating companies to spend 2 per cent of profits on Corporate Social Responsibility (CSR). Sitharaman clarified that the Bill only revises the method of calculating net profits and does not alter the CSR requirement. She said the amendments are based on two years of consultations with industry bodies, professionals and other stakeholders. Speaker Om Birla approved the referral to the JPC. The Bill seeks to amend the Companies Act, 2013, and the Limited Liability Partnership Act, 2008, to improve ease of doing business, reduce compliance burden and decriminalise minor offences by replacing certain criminal provisions with monetary penalties. Meanwhile, the Finance Bill, 2026, tabled in the House will give legal backing to Budget proposals for 2026–27, including changes in income tax, customs and excise duties once passed.
