By Vallari Dubey, (resolution@vinodkothari.com) IBBI amends CIRP Regulations to include claims of other creditors IBBI has taken a step towards making positive changes in the Insolvency and Bankruptcy Board of India (‘the Code’). The amendments being brought to Regulations pertaining to Corporate Insolvency Resolution Process, provides a relief to home buyers, who are stuck in […]
By Richa Saraf, (legal@vinodkothari.com) BACKGROUND: In exercise of its powers under sub clause (iv) of clause (m) of sub section (1) of section 2 read with section 31A of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ( “SARFAESI Act”), the Central Government issued a notification[1] dated August 5, 2016 notifying […]
By CS Vinita Nair, corplaw@vinodkothari.com It is a fact that certain decisions are taken by Board impromptu/ surprise item and is not a part of the agenda. Therefore, the agenda includes an item ‘With the permission of Chairperson’ to keep the agenda flexible. It is a good thought to ponder upon that whether all tabled […]
By Ankit Bhalotia ,gst@vinodkothari.com The GST law, introduced with effect from 1st July, 2017, makes a major rejig in the indirect tax system in the country. With its introduction, several concepts have been brought up, playing with the minds of the people. One such concept that has created havoc is the reverse charge mechanism and […]
By Richa Saraf, legal@vinodkothari.com The Reserve Bank of India (RBI) vide Notification No. MRD.DIRD.01/CGM (TRS) – 2017 dated August 10, 2017 has issued Reserve Bank Commercial Paper Directions, 2017 (“New Directions”). The new guidelines are in supersession of the existing directions on Commercial Paper in the Master Directions on Money Market (Section II) RBI/FMRD/2016-17/32 dated July […]
By Ankit Bhalotia, (finserv@vinodkothari.com) Introduction Accounting for lease has been a concern for the leasing industry from very beginning of the industry. Over the years, the leasing industry has grown under the shadow of the accounting standards. There has been a revolutionary change taking place in the leasing standards which forms a basis for […]
