Entries by Staff Publication

RBI’s 12th February circular: The Last Word Becomes the Lost World

RBI’s 12th February circular: The Last Word Becomes the Lost World Abhirup Ghosh (abhirup@vinodkothari.com) The 12th February 2018 circular of the Reserve Bank of India (RBI)[1] (Circular), arguably one of the sternest of measures requiring banks to stop ever-greening bad loans, and resolve them once for all, with a hard timeline of 6 months, or […]

New lease accounting standard kicks off from 1st April, 2019

Financial Services Division (finserv@vinodkothari.com) The Ministry of Corporate Affairs (MCA) has put a small announcement on its website that the new lease accounting standard, IndAS 116 will get implemented from 1st April 2019. The new Standard, globally implemented in several countries from 1st Jan 2019, is called IFRS 16. The Standard eliminates the 6-decade old […]

Securitisation laws prevailing in various countries are listed below :

Singapore: Monetary Authority of Singapore (MAS) Guidelines on Securitisation (The guidelines were finalized in 2000) Amendment in 2018 http://www.mas.gov.sg/~/media/MAS/Regulations%20and%20Financial%20Stability/Regulations%20Guidance%20and%20Licensing/Finance%20Companies/Notices/MAS%20Notice%20832%20%20Amendment%20%202018.pdf Amendment in 2007 http://www.mas.gov.sg/~/media/MAS/Regulations%20and%20Financial%20Stability/Regulations%20Guidance%20and%20Licensing/Commercial%20Banks/Regulations%20Guidance%20and%20Licensing/Notices/MAS%20Notice%20628%20(2007).pdf News on Securitisation http://vinodkothari.com/2013/11/sing/ Rules on Securitisation http://vinodkothari.com/seclawsg/ USA: 15 U.S. Code § 78o–11. Credit risk retention: https://www.law.cornell.edu/uscode/text/15/78o-11 Dodd-Frank Wall Street Reform and Consumer Protection Act [Public Law 111–203] [As Amended Through P.L. […]

Consolidation of new ECB and Trade Credit framework: RBI issues Master Direction 2019

Vallari Dubey corplaw@vinodkothari.com Introduction With the backdrop of revision of various frameworks for raising funds outside India (other than by way of equity participation), RBI has issued the Master Direction – External Commercial Borrowings, Trade Credits and Structured Obligations on 26th March, 2019, in supersession of the existing Master Direction – External Commercial Borrowings, Trade […]