Author Archive for: vishesh
Entries by Staff Publication
Home-buyers provisions in IBC: Putting square peg in round holes?
Sikha Bansal (resolution@vinodkothari.com) The ruling of the Apex Court in Pioneer Urban Land and Infrastructure vs. Union of India[1], comes as a breather for home-buyers (all and sundry), upholding the constitutional validity of the amendments brought out in section 5(8) of the Insolvency and Bankruptcy Code, 2016 (“IBC”). Section 5(8) defines ‘financial debt’ as a […]
FAQs: NBFCs not to charge foreclosure / pre-payment penalties on floating rate term loans for Individual borrowers
-Kanakprabha Jethani and Julie Mehta finserv@vinodkothari.com RBI has vide notification[1] dated August 02, 2019 issued a clarification regarding waiver of foreclosure charges/ prepayment penalty on all floating rate term loans sanctioned to individual borrowers, as referred to in paragraph 30(4) of Chapter VI of Master Direction – Non-Banking Financial Company – Systemically Important Non-Deposit […]
SEBI amends LODR in relation to equity shares with superior rights
Manoj Kumar Tiwari, Executive, Vinod Kothari & Company SEBI has vide notification published in the Official Gazette dated July 29, 2019 notified the SEBI (Listing Obligations and Disclosure Requirements) (Fourth Amendment) Regulations, 2019 (‘Amendment Regulations’). The said Amendment Regulations shall come into force from the date of publication in the Official Gazette i.e. July 29, […]
RBI eases end-use ECB norms for Corporates and NBFCs
Timothy Lopes, Executive, Vinod Kothari & Company Introduction The Reserve Bank of India (RBI) has wide press release[1] dated 30. 07. 2019 revised the framework for External Commercial Borrowings based on feedback from stakeholders, and in consultation with the Government of India, by relaxing the end-use restrictions with a view to ease the norms for […]