Timothy Lopes, Executive, Vinod Kothari Consultants finserv@vinodkothari.com Non-Banking Financial Companies (NBFCs) have been actively involved in the securitisation market, being one of its major participants at the originating as well as investing front. One of the key motivation of a securitisation transaction is its ability to take the loans off the books of the originator, […]
Team Vinod Kothari & Company | corplaw@vinodkothari.com Updated on 29th March, 2020 Like all other public agencies, MCA has been taking a series of steps in the wake of the rapidly spreading COVID-19 and issued clarification[1] on spending of CSR funds for COVID 19 stating that the amount spent on COVID-19 by companies will count […]
-Financial Services Division (finserv@vinodkothari.com) The Master Direction – Priority Sector Lending – Targets and Classification[1] issued by the Reserve Bank of India (RBI) mandates Scheduled Commercial Banks (SCBs) to lend a specified percentage of their Adjusted Net Bank Credit (ANBC) to the specified ‘needy’ sectors called the Priority Sectors. Further, in order to assist […]
Vinod Kothari and Company; corplaw@vinodkothari.com Updated as on 23rd March, 2020 All companies and LLPs must have, by now, got mailers from the Ministry of Company Affairs about COVID-19 preparedness, and the need to file a web based form CAR 2020 i.e. Company Affirmation of Readiness towards COVID 19. The MCA circular is nothing but […]
Ambika Mehrotra corplaw@vinodkothari.com The role of non-executives (NEDs) and independent directors (IDs) in an organization in bringing their unbiased views, transparency and good governance in the corporate culture has already been recognized globally. The NEDs including IDs are not typically engaged in the day-to-day management but their responsibilities inter-alia include monitoring of the functioning of […]
Guidelines on regulation of Payment Aggregators and Payment Gateways issued -Mridula Tripathi (finserv@vinodkothari.com) Background In this era of digitalisation, the role of intermediaries who facilitate the payments in an online transaction has become pivotal. These intermediaries are a connector between the merchants and customers, ensuring the collection and settlement of payment. In the absence of any […]
-Abhirup Ghosh (abhirup@vinodkothari.com) The Reserve Bank of India, on 13th March, 2020, issued a notification[1] providing guidance on implementation of Indian Accounting Standards by non-banking financial companies. This guidance comes after almost 2 years from the date of commencement of first phase of implementation of Ind AS for NBFCs. The intention behind this Notification is […]