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This is the second time the law is being amended in the past one year.
The Union Cabinet on Wednesday authorized amendments to the Business Act, to decriminalise different offenses.
Cabinet has actually approved 72 changes to 65 areas of the Business Act, Finance and Corporate Affairs Minister Nirmala Sitharaman said.
Declaring that the proposed amendments were focused on enhancing the ease of operating, Ms. Sitharaman described: “Out of 66 compoundable offenses under the Act, 23 will get recategorised so that they can be dealt with through in-house adjudication structure, 7 have been left out completely, 11 will have minimal penalty in the kind of