Author Archive for: vishesh
Entries by Vinod Kothari Consultants
Chinese securitization market continues to grow – S&P Report
By Nidhi Bothra (finserv@vinodkothari.com) Amdist slowdown of the Chinese economy, bulging debt load and excessive investments, the impetus has been on securitisation to convert assets into asset-backed bonds. China’s ABS market has wide range of assets such as loans, real estate, toll ways, auto loans, housing loans etc.
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. […]
CBDT clarifies its stand on section 269ST – NBFCs will breathe a sigh of relief
By Abhirup Ghosh (abhirup@vinodkothari.com) One of the major highlights of the Finance Budget 2017 was the introduction of section 269ST of the Income Tax Act, 1961. The section was introduced with an intention to curb black money by reducing the scope of large ticket size cash transactions in the economy. As per the provisions of […]
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 […]