Author Archive for: vishesh
Entries by Staff Publication
Abrupt auditor resignations: SEBI seeks transparency
By Vinod Kothari & Vinita Nair, Partner, Vinod Kothari & Co corplaw@vinodkothari.com A SEBI proposal by way of a Consultative Paper[1] to amend Reg. 33 of SEBI (LODR) Regulations seeks to lay down in the rule book of listed entities that when auditors want to resign in the middle of an auditing assignment, they cannot […]
Applicability of GST on penal charges
By Yutika Lohia (yutika@vinodkothari.com) Introduction The Goods & Services Tax (GST) has been the biggest tax reform in India founded on the notion of ‘one nation, one market, one tax’. It has and will further affect the entire economy including core industries such as agriculture, manufacturing, finance, service, infrastructure etc. The tax reform has been […]
Applicability of NFRA Rules on overseas subsidiaries and associates: Conflict between the Rules and FAQs
Pammy Jaiswal Partner, Vinod Kothari and Company Background National Financial Reporting Authority (‘NFRA’) being a quasi-judicial authority has been empowered by the Central Government to independently regulate and monitor the accounting and auditing standards (‘A&AS’). The intent of NFRA is to oversee the quality of A&AS of large entities as mentioned under Rule 3 […]
NCLAT’s Essar ruling: Notable observations on role of Creditors’ Committee
– CS Megha Mittal (mittal@vinodkothari.com) [This article is intended for academic debate on the law around powers of the Committee of Creditors vis-à-vis the adjudicatory authorities, as it continues to evolve] More than being just another matter in the list of insolvency cases in India, the Essar Steel matter has always been in the spotlight, […]
Car Leasing In India: ‘Breaking the Stereotypical Definition Of Luxury’
Julie Mehta (julie@vinodkothari.com) Introduction Who thought hiring was even an option to enjoy the luxury of having to use a car. But with the world undergoing a paradigm shift, it untapped its energies into providing and establishing better services for its customers, leasing has paved its way into existence. Most of the industries have adopted […]
Distinguishing between Options and Forwards
By Falak Dutta (rajeev@vinodkothari.com) Ruling of Bombay High Court The Bombay High Court on March 27, 2019, in the case of Edelweiss Financial Services v. Percept Finserve Pvt. Ltd.[1], ruled out an award passed by a sole arbitrator with respect to a share purchase agreement (SPA). The High Court allowed enforcing of a put option […]