The new companies law has key managerial professionals (KMPs) and auditors worried as its terms are much more stringent than the old legislation, with some even calling it 'draconian'. While the previous law allowed professionals to get away with a fine for most offences, Companies Act, 2013 stipulates jail terms of up to 10 years for KMPs, auditors or company experts.
Source - http://economictimes.indiatimes.com
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