Explanation:

The Union Cabinet has approved the Companies (Second Amendment) Bill, 2019 to amend the Companies Act, 2013. This will  enable the listing of Indian companies on stock exchanges in foreign jurisdictions. 

• The amendment aims to recategorize 23 offences and omit 7 compoundable offences. Under the amendment, the companies with Corporate Social Responsibility (CSR) obligation of less than Rs 50 lakhs need not constitute a CSR committee.
• The CSR is a concept through which a company takes volunteer efforts in philanthropical programmes and adopt businesses that benefit society. The Injeti Srinivas Committee was constituted to review existing frameworks of CSR and strengthen its ecosystem. 
• The act is to be amended to make filings more scientific. A new Section 129 A is to be included that will file results of unlisted companies (under the act) on a periodic basis. This is to be done in addition to annual filing.