INJETI SRINIVAS COMMITTEE

Key recommendations:

1. Restructure Corporate Offences to relieve Special Courts from adjudicating routine offences:
   1. Institute a transparent online platform for E-adjudication and E-publication of orders.
      
      
   2. Re-categorize 16 out of the 81 compoundable offences by shifting them from the jurisdiction of special courts to an in-house E-adjudication framework.
      
      
   
   
   
2. De-clogging the National Company Law Tribunal (NCLT) by through significant reduction in compounding cases before the Tribunal;
   
   
3. Re-introduction of declaration of commencement of business provision to better tackle the menace of ‘shell companies’;
   
   
4. Imposition of a cap on independent director’s remuneration in terms of percentage of income in order to prevent any material pecuniary relationship;
   
   
5. Non-maintenance of registered office to trigger de-registration process;
   
   
6. Holding of directorships beyond permissible limits to trigger disqualification of such directors;
   
   
7. Greater disclosures with respect to public deposits to prevent abuse and harming of public interest.