Entries by Vinod Kothari Consultants

Dissolution without Resolution- A disguised Strike-off under IBC?

–Megha Mittal (resolution@vinodkothari.com) In a first of its kind, the Hon’ble National Company Law Tribunal, Bengaluru Bench vide its order dated 16th November, 2020, in the matter of Synew Steel Private Limited[1], has ordered for direct dissolution from CIRP, thereby waiving off the mandatory requirement to undergo the liquidation process. The said order was inspired […]

RBI aligns list of compoundable contraventions under FEMA with NDI Rules

‘Technical’ contravention subject to minimum compoundable amount, format for public disclosure of compounding orders revised. – CS Burhanuddin Dohadwala | corplaw@vindkothari.com Introduction Compounding refers to the process of voluntarily admitting the contravention, pleading guilty and seeking redressal. It provides comfort to any person who contravenes any provisions of FEMA, 1999 [except section 3(a) of the Act] […]

FDI Policy consolidated after 3 years: mismatches with NDI Rules remain

FEMA (Non-Debt Instruments) Rules, 2019 requires to be aligned for few sectors. Bunny Sehgal | Associate | Vinod Kothari and Company corplaw@vinodkothari.com Introduction The Department for Promotion of Industry and Internal Trade (‘DPIIT’) issued the Consolidated FDI Policy, 2020 (‘FDI Policy, 2020’) on October 28, 2020[1] in supersession of all press notes/ press release/ clarifications/ […]

SEBI’s stringent norms for secured debentures

Will it lead to a paradigm shift to unsecured debentures? Shaifali Sharma | Vinod Kothari and Company corplaw@vinodkothari.com Introduction The debt market in India has seen significant growth over the years. Amongst the various debt instruments, debentures are one of the most widely used instruments for raising funds. In India, the regulatory framework for debt […]

Sale of Legal Entity as an Asset: A step towards value maximization

–Megha Mittal  (resolution@vinodkothari.com) Maximization of value of assets of the corporate debtor is one of the primary objectives of the Insolvency and Bankruptcy Code, 2016 (“Code”/ “IBC”); and it is towards this objective that the Code requires a mandatory corporate insolvency resolution process to ensue prior to liquidation. The rationale behind such specified order is […]