Quarterly Insights — Company Law, Accountancy and Audit
This quarter the Corporate Laws (Amendment) Bill, 2026 was tabled, alongside an Ind AS reporting framework for insurers, a one-time MCA-21 cleanup window, and a steady stream of NFRA and ICAI pronouncements that change audit expectations.
Inside this briefing:
Corporate Laws (Amendment) Bill, 2026: Small Company thresholds raised to INR 20 cr paid-up and INR 200 cr turnover; section 68 buy-back expanded; section 135 CSR threshold lifted to INR 10 cr net profit; AGM/EGM via VC (with one physical AGM every three years); section 173 single-meeting concession for OPC, small and dormant companies.
AS 22 amendment: Pillar Two (OECD) accounting and disclosure now codified.
CCFS-2026: one-time MCA-21 condonation window, 15 April to 15 July 2026.
SEBI LODR amendment: HVDLE threshold raised from INR 1,000 cr to INR 5,000 cr.
IRDAI Ind AS framework for insurers, effective 1 April 2026, with one-year forbearance.
NFRA recommendations on Ind AS 118, Ind AS 109/107 amendments, and Audit Committee guidance on Ind AS 37 (provisions and contingent liabilities).
ICAI updates: Guidance Notes on Banks (2026 edition, co-authored by CNK partner CA Manish Sampat), Labour Codes, Internal Audit Compendium, SQM 1/SQM 2 deferral, Liquidation Accounting research report.