A bill seeking to remove "oppressive provisions" in Companies law and to align it with international practices was approved by Lok Sabha with the government saying it will improve ease of doing business and attract investments.
Piloting the bill, Finance Minister Arun Jaitley said the "oppressive provisions" have been removed from the Companies Act 2013 as it was felt "no body will come here to set up business if such an environment persists."

Source - http://zeenews.india.com