Nominee directors are usually appointed by the financial institutions or investors (”Nominator”) on the board of the borrower company for the purpose of representing and safeguarding their interest thereof. Such Nominee directors are liable to perform duty towards the borrower company and its stakeholders under section 166 and other provisions of the Companies Act, 2013 […]
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Entries by Vinod Kothari Consultants
For filing application under the Insolvency and Bankruptcy Code, 2016 (IBC), the operational creditor has to serve a prior 10 days demand notice to the corporate debtor. The corporate debtor can either make payment on receipt of such demand notice or bring to the notice of the operational creditor existence of dispute, if any, and […]
The government has been scrambling since the demonetisation drive began to stay a step ahead of black money hoarders and to keep a check on transactions made by the companies. Many companies including NBFC’s are facing the wrath of the government’s policies moves in the recent times To add to it, the reporting of Statement […]
Background Every time a new Act is introduced, it brings with itself a fresh set of regulations. The Companies Act, 2013 (‘the Act’) is one astounding example of the same. What makes this Act stand out is the fact that it replaced decades old Companies Act, 1956. With the Act in force, several erstwhile concepts […]
Practice makes a man perfect and the same practice (read: implementation) makes a law seamless. Insolvency and Bankruptcy Code, 2016 along with its allied rules and regulation is just a year old technically (and around 5 months old effectively) and surely there are gaps which are being detected during implementation.
The Securities and Exchange Board of India (SEBI) on 30th May, 2017 came out with a circular stating the disclosure requirements for issuance and listing of Green Debt Securities in India (hereinafter referred to as “Circular”). Earlier in December, 2015, SEBI had come out with a concept paper for issuance of Green Bonds in India […]
Author: Vallari Dubey The Government on 24th May 2017 released the Insolvency and Bankruptcy Code (Removal of Difficulties) Order, 2017 making additions in the Eighth Schedule of the Code, which originally amends the Sick Industrial Companies (Special Provisions) Repeal Act, 2003 (SICA), in order to clarify the matter in view of the repeal of the […]
The MCA has once again extended the time for transferring the shares to the IEPF demat account in view of the modality gap present. The circular clearly states that since the operational issues are yet to be finalized with the other participants, the date for transferring shares is being extended. After number of circulars on trying […]