Author Archive for: vishesh
Entries by Vinod Kothari Consultants
INSOLVENCY OF FSPS AND THIRD PARTY RIGHTS UNDER SECURITISATION CONTRACTS
-Richa Saraf (richa@vinodkothari.com) The Insolvency and Bankruptcy Code, 2016 (“Code”) does not, in general, deal with insolvency of financial service providers (“FSPs”), as FSPs are seen to be systemic and complex structures with unique transactions in their kitty. However, the Dewan Housing Finance Corporation Limited (DHFL) collapse led to notification of the Insolvency and […]
Sixth Bi-monthly Monetary Policy of RBI: Likely to spur long-term growth
-Kanakprabha Jethani | Executive (kanak@vinodkothari.com) The Reserve Bank of India (RBI) released its Sixth Bi-monthly Monetary Policy Statement, 2019-20[1] along with the Statement on Developmental and Regulatory Policies[2] (‘Statement’) on February 06, 2020. The said Statement proposed various measures primarily to spur the growth impulses and push credit offtake. Some of the major proposals are […]
Condonation of delay provisions now extended to LLPs
Megha Saraf, Manager | Corporate Law Division megha@vinodkothari.com Ministry of Corporate Affairs (“MCA”) vide its recent Notification[1] dated 30th January, 2020 has given a relaxation to all Limited Liability Partnerships (LLPs) by extending the scope of condoning the delay to them in filing applications/ documents to the Central Government/ Registrar. As per the powers conferred […]
Accumulated welfare benefits of employees and treatment under Resolution Plans
–Megha Mittal (resolution@vinodkothari.com) The preamble of the Insolvency and Bankruptcy Code, 2016 (“Code”) enshrines the principle of balance of interests of all stakeholders. A major part of the stakeholders is represented by employees and workmen. Employees and workmen are one of the most significant pillars on which the economy runs, and hence, it becomes important […]
Customary puppets: Meaning of Companies Act expression “accustomed to act”
Vinod Kothari and Pammy Jaiswal corplaw@vinodkothari.com The expression “accustomed to act” occurring with advice, directions or instructions of a person, is not at all new in corporate laws. Such expression was used in the 1956 Act, and has abundantly been used in the various global legislations like the UK Companies Act 1948, UK Act of […]