Entries by Staff Publication

Guidance Note to NBFCs for nomination of counsel in Delhi High Court

By Richa Saraf, (legal@vinodkothari.com) BACKGROUND: In exercise of its powers under sub clause (iv) of clause (m) of sub section (1) of section 2 read with section 31A of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ( “SARFAESI Act”), the Central Government issued a notification[1] dated August 5, 2016 notifying […]

FAQs on GST on Directors’ Remuneration

By Ankit Bhalotia ,gst@vinodkothari.com The GST law, introduced with effect from 1st July, 2017, makes a major rejig in the indirect tax system in the country. With its introduction, several concepts have been brought up, playing with the minds of the people. One such concept that has created havoc is the reverse charge mechanism and […]

RBI revamps Directions for issuance of Commercial Paper

By Richa Saraf, legal@vinodkothari.com The Reserve Bank of India (RBI) vide Notification No. MRD.DIRD.01/CGM (TRS) – 2017 dated August 10, 2017 has issued Reserve Bank Commercial Paper Directions, 2017 (“New Directions”). The new guidelines are in supersession of the existing directions on Commercial Paper in the Master Directions on Money Market (Section II) RBI/FMRD/2016-17/32 dated July […]

Comparative Analysis of changes in Standards on Leasing over time

By Ankit Bhalotia,  (finserv@vinodkothari.com)   Introduction Accounting  for  lease  has  been  a  concern  for  the  leasing  industry  from  very  beginning  of  the industry. Over  the  years,  the  leasing  industry  has  grown  under  the  shadow  of  the  accounting  standards. There has been a revolutionary change taking place in the leasing standards which forms a basis for […]

NHB softens provisioning norms for HFCs

By Anita Baid, (legal@vinodkothari.com) The National Housing Bank (NHB) vide its notification no. NHB.HFC.DIR.18/MD&CEO/2017[1] dated 02nd August, 2017 has made certain amendments to the Housing Finance Companies (NHB) Directions, 2010 (‘Directions’). The provisions of the Directions is applicable to every housing finance company (HFC) registered under section 29A of the National Housing Bank Act, 1987. […]