Entries by Staff Publication

SEBI qualifies QIP for achieving MPS

By Chahat Jain (corplaw@vinodkothari.com) Compliance with MPS requirement will no longer be a pre-requisite in order to be eligible to undertake Qualified Institutional Placement. SEBI, in its board meeting held on December 28, 2017[1] decided to introduce Qualified Institutions Placement (QIP) and Sale of shares up to 2% held by promoters/promoter group in open market, […]

RBI’s endeavour to tackle stressed assets continues

By Abhirup Ghosh, (abhirup@vinodkothari.com),(finserv@vinodkothari.com) The Reserve Bank of India (RBI), on 12th February, 2018[1], notified the “Resolution of Stressed Assets – Revised Framework” (Revised Framework). This aims to replace the four year old, “Framework for Revitalised Distressed Assets in the Economy”[2] (Framework) read with association circulars, guidelines and directions issued from time to time. To […]

Help in the hour of need: RBI relaxes asset classification norms for MSME accounts

By Abhirup Ghosh(finserv@vinodkothari.com) The Reserve Bank of India (RBI), on 7th February, 2018[1], has come out with a notification to grant relaxation to banks and NBFCs with respect to asset classification in case of MSME accounts. The notification has been released on the pretext that the due to the implementation of Goods and Services Tax, […]

Extract or the Annual Return itself- Anomaly under section 92 through the Companies (Amendment) Act, 2017

By Pammy Jaiswal & Munmi Phukon(corplaw@vinodkothari.com) Introduction While the Companies (Amendment) Act, 2017 (‘Amendment Act’) has brought sea changes in various provisions of the Companies Act, 2013 (‘Act’), in absence of a clarification, some of the provisions are still left open for interpretation. One of them is with respect to placing of annual return on […]