By Abhirup Ghosh, (firstname.lastname@example.org) Factoring is a very popular product mode of working capital funding across the globe. In India, however, the picture is not quite rosy for factoring companies. Nevertheless, like every other thing in the country, factoring transactions will also be affected by the introduction of GST in India. Here in this article, […]
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Entries by Vinod Kothari Consultants
Insolvency and Bankruptcy Board of India (‘IBBI’) vide notification number IBBI/2017-18/GN/REG 012 dated 14th June, 2017 has come up with Fast track Insolvency regime for small companies by introducing the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 (‘Fast Track Regulation’) and has appointed 14th June, 2017 […]
By Nidhi Bothra & Vijaylakshmi Agarwal, (email@example.com) Executive summary This tax update summarises a recent ruling of Chennai Income Tax Appeallate Tribunal (“Chennai ITAT”) in the case of TVS Investments iFund Vs ITO wherein the issue before Chennai ITAT was whether interest income of beneficiaries rolled over to another venture capital fund would be taxed […]
By Nidhi Bothra, (firstname.lastname@example.org) Transitioning into GST, assessing its impact on business and taking appropriate measures to bring about tax neutrality/ efficiency are the prime concern for all and sundry. GST therefore also has an impact on the securitisation transactions in India which now happens to be Rs. 85,000 crores odd industry. In this article […]
We often get clients asking us the question, do we need an MFI licence or is it enough to get an NBFC Loan Company licence? After all, the client reasons, being an MFI is simply to be under a tigher regulatory and compliance regime. This article seeks to outline the key pros and cons of […]
Deposits have always been strictly regulated by all the law makers, be it MCA, RBI or SEBI. Chapter V of Companies Act, 2013 (‘Act, 2013’) read with Companies (Acceptance of Deposits) Rules, 2014 [‘Deposit Rules’] provides the framework for lawful acceptance of deposits by companies. The framework provides list of amounts which do not fall […]
MCA vide notification dated 5th June, 2015 (‘Principal Notification’) exempted Section 8 companies from complying with certain provisions of the Companies Act, 2013 (“Act, 2013”) subject to the condition that the company will ensure protection of shareholder’s interests. MCA vide notification dated June 13, 2017 (’Amendment Notification’) made certain amendments in the principal notification which […]
On 13th June 2017, RBI released a press release titled, “RBI identifies Accounts for Reference by Banks under the Insolvency and Bankruptcy Code (IBC)”, specifying the recommendations issued by an Internal Advisory Committee (IAC), which constituted in furtherance of the powers laid down by the NPA Ordinance.
The article delves into the recent Security Appellate Tribunal (“Tribunal”) judgment which has upheld the Security Exchanges Board of India (“SEBI”)- the (“Respondent”) order classifying the holiday schemes floated by Pancard Clubs Limited (“Appellants”) as a Collective Investment Scheme (“CIS”) and thereby directing the Appellants to inter-alia, refund the sum of money amounting to Rupees […]
At the time of its notification, Companies Act, 2013 (‘Act, 2013’) was applicable uniformly across all types of companies. Respite was brought about by the MCA notification dated June 5, 2016 (‘Principal Notification’) which provided that certain provisions of the Act, 2013 shall not apply or shall apply to government with such exemptions, modifications or […]