Archive for month: April, 2018
FDI in financial services sector: restrictions brought back but for unregulated entities
/0 Comments/in FEMA, Financial Services, Housing finance, NBFCs, SEBI /by Vinod Kothari ConsultantsAnalysis of amendments to KYC Master Directions, 2016
/0 Comments/in KYC/PMLA, NBFCs /by Vinod Kothari ConsultantsRevamping private placement mechanism
/0 Comments/in Amendments to the Companies Act 2013, Companies Act 2013, Corporate Laws /by Vinod Kothari ConsultantsImplication of definitional change in related parties- As per the Companies (Amendment) Act, 2017
/0 Comments/in Corporate Laws /by Vinod Kothari ConsultantsBy Smriti Wadehra (corplaw@vinodkothari.com)
Introduction
The Companies Act, 1956 (“Act, 1956”) did not define the word ‘related party’, however, in 12th September, 2013, MCA enforced the relevant provisions of the Companies Act, 2013 (“Act, 2013”) which defined the above term for the first time, and ever since then the definition has been changing to broaden its scope.
Ministry has brought significant changes in the definition of related party through the Companies (Amendment) Act, 2017 (“Amendment Act, 2017”) which has been made effective from 9th February, 2018. In this article we have majorly covered the changes brought in the definition of related party and its implications from compliance perspective. Read more →