Entries by Vinod Kothari Consultants

Appointment of IDs exempted by MCA for certain unlisted public companies

The MCA notified the Companies (Appointment and Qualification of Directors) Amendment Rules, 2017[1] (‘Amendment Rules, 2017’) w.e.f July 5, 2017 exempting certain unlisted public companies from the requirement of appointing independent directors. Additionally, MCA has amended Form DIR-5 in relation to cancellation or surrender or deactivation of DIN.

MCA amends Schedule IV in an attempt to align and exempt certain provisions

Inspite of the barrage of notifications, amendments, clarifications, MCA in an attempt to continue the tradition has issued another Notification[1] dated July 5, 2017, amending Schedule IV of the Companies Act, 2013. The Notification will come into force on the date of its publication in the Official Gazette, which we assume will be done soonest. […]

Representation to SEBI on Exemptions related to ISINs for Debt Securities

To, Ms. Richa G. Agarwal Deputy General Manager Investment Management Department Securities and Exchange Board of India   Sub: Representation on the exemptions related to International Securities Identification Number (ISINs) for debt securities issued under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008 and clarity on initial reporting. Ref: SEBI Circular No. CIR/IMD/DF-1/ […]

Case for Mezzanine Tranche in securitisation

By Nidhi Bothra, (finserv@vinodkothari.com)   As a securitization market matures, one of the surest things that should emerge is the market for mezzanine tranches. This article tries to articulate on the relevance of mezzanine tranche in the securitization market that is on an upswing currently. What is a mezzanine tranche? A mezzanine tranche is a […]

TPP Rules Amended: MCA issues second amendment

The Ministry of Corporate Affairs (“MCA”) vide its Notification No. G.S.R. 1119(E) dated December 7, 2016 issued the Companies (Transfer of Pending Proceeding) Rules, 2016 (‘TPP Rules, 2016’) in exercise of the powers conferred under section 431 (1) and (2) of the Companies Act, 2013 (‘Act, 2013’) read with section 239 (1) of the Insolvency […]