By Nikita Snehil (nikita@vinodkothari.com) (corplaw@vinodkothari.com) SEBI vide its Circular[1] dated December 7, 2018, has come out with the format for the disclosure of significant beneficial ownership. The said format has been inserted in the format of the shareholding pattern of specified securities, which is submitted by the entities under Regulation 31 of the SEBI (Listing […]
By Beni Agarwal (beni@vinodkothari.com) Introduction A recent advance ruling has thrown the financial industry off its balance. The pre-ruling opinion amongst the industry members has been refuted and yet another item has been brought within the ambit of GST, that is, penal interest or overdue interest. Before the aforesaid advance ruling, which we have discussed […]
By Simran Jalan (simran@vinodkothari.com) Introduction A company resident outside India may initiate business in India by setting up a subsidiary or branch office or liaison office or project office or any other place of business by whatever name called after taking prior approval of the Reserve Bank of India (RBI). Setting up any of the […]
By Pammy Jaiswal (pammy@vinodkothari.com) (corplaw@vinodkothari.com) Background The untiring efforts of SEBI as well as the Government in uplifting the bond market is quite commendable. SEBI has started taking long footsteps towards the accomplishment of the budget announcement by the Government for the year 2018-19. The steps include introduction of electronic bidding platform for privately placed […]
By Beni Agarwal (beni@vinodkothari.com)
By Financial Services Division, finserv@vinodkothari.com In the wake of the recent hues and cries of the entire country in anticipation of a liquidity crisis in the NBFC sector, the Reserve Bank of India, on 29th November, 2018, issued a notification[1] to modify the Securitisation Guidelines.The amendment aims to relax the minimum holding period requirements […]
By Richa Saraf and Ananya Raghavendra (resolution@vinodkothari.com) The insolvency resolution process of Binani Cements have been through various ups- and downs. On 19.11.2018, the Hon’ble Supreme Court in the case of Rajputana Properties Pvt. Ltd. v. UltraTech Cement Ltd. & Ors. dismissed Dalmia Bharat’s plea to seek stay on Ultratech’s bid for Binani Cement, upholding […]
(This article was published in Moneylife at https://www.moneylife.in/article/nfra-to-now-regulate-audit-and-auditors-of-vulnerable-entities/55812.html) By CS Nitu Poddar (corplaw@vinodkothari.com) With the intent to tap financial scams that the nation witnessed and considering the existence of independent audit regulators in global economies, MCA has, after much mulling and debate, finally rolled out National Financial Reporting Authority Rules, 2018 (Rules), effective from […]