Entries by Staff Publication

Should OCI be included as a part of Tier I capital for financial institutions?

Regulatory authorities in India have been implementing Ind AS in phased manner since 2016. The Ministry of Corporate Affairs had issued two notifications – first, for phase-wise  implementation of Ind AS among non-banking non-financial companies (NBNC) and second, for phase-wise implementation of Ind AS among non-banking financial companies (NBFC). While the phase-wise implementation among NBNCs […]

Guidelines for Review of Loans and Investments by the Audit Committee

Team Vinod Kothari & Company corplaw@vinodkothari.com Background   Securities and Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015 (‘Listing Regulations’) as well as Companies Act, 2013 (‘Act, 2013’) specify the role of the audit committee and mandates the audit committee to mandatorily review certain matters. Among the matters to be reviewed by […]

Aadhaar Ordinance – Paving way for use of voluntary Aadhaar by Private Companies

By Simran Jalan (simran@vinodkothari.com) Introduction Supreme Court in the case of Justice K.S. Puttaswamy (Retd.) & Anr. V. Union of India, W.P. (Civil) 494/2012 dated September 26, 2018[1] (‘Aadhaar Verdict’) partially quashed section 57 of the Aadhaar Act, which dealt with use of Aadhaar by private companies or bodies corporate. Pursuant to the Aadhaar verdict, […]

Simultaneous Claim by a Beneficiary of Guarantee

By Richa Saraf (resolution@vinodkothari.com) Introduction In a recent case of Dr. Vishnu Kumar Agarwal v. M/s. Piramal Enterprises Ltd.[1] Company Appeal (AT) (Insolvency) No. 346 of 2018, the NCLAT has held that an application for initiation of corporate insolvency resolution process for same very claim/debt is not permissible. Now, consider a situation where Company A […]

Press Release: Central Bank of Nigeria appoints Vinod Kothari Consultants for review and drafting of law on securitisation

The Central Bank of Nigeria (CBN), apex banking authority of the Nigeria, has appointed Vinod Kothari Consultants Pvt. Ltd. (VKC) for review and drafting their domestic law to govern securitisation transactions. The initiative by the apex authority is a part of their Financial System Strategy 2020. VKC is expected to facilitate enactment of the legislation […]