The Companies Amendment Act, 2017 (Amendment Act) was notified on 3rd January 2018. The highlights of the Amendment Act are

1) Minimum number of persons of a company- The Amendment Act provides that if the minimum number of persons falls below 7 for a public company and below 2 for a private company and the company continues to carry on business for
more than 6 months, then every person who is a member of the company during that time, shall be severally liable for the payment of the whole debts of the company contracted during that time, and may be severally sued

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