[Updated as on 12th December, 2019] By Financial Services Division, finserv@vinodkothari.com The Finance Minister, during the Union Budget 2019-20, proposed to introduce a partial credit guarantee scheme so as to extend relief to NBFCs during the on-going liquidity crisis. The proposal laid down in the budget was a very broad statement. On 13th August, 2019[1], the Ministry […]
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 […]
-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 […]