Entries by Vinod Kothari Consultants

RBI to strengthen corporate governance for Core Investment Companies.

Vinod Kothari As a part of the Bi-monthly Monetary Policy on 6th June, 2019, the RBI’s review of Development and Regulatory Policies [https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=47226] proposed to set up a working group to strengthen the regulatory framework for core investment companies (CICs). The RBI states: “Over the years, corporate group structures have become more complex involving multiple […]

MCA set to deploy the eForm for reporting details of SBOs

Ambika Mehrotra corplaw@vinodkothari.com Background Amendment to Section 89 and insertion of Section 90 are one of the key amendments brought in by the Companies (Amendment) Act, 2017 (‘Amendment Act’).  The said provisions were enforced w.e.f. June 14, 2018and Companies (Significant Beneficial Owners) Rules, 2018 were notified[1] (‘SBO Rules’). MCA, thereafter, issued General Circular No 7/ […]

Core competencies of Directors: the new disclosure requirement for listed entities

By Munmi Phukon Principal Manager, Vinod Kothari & Company munmi@vinodkothari.com Introduction How does a person get into the board of directors of a listed entity? Simply because he happens to be a majority shareholder, or the son of the promoter, or a morning-walk friend of the promoter? Or, is it that a listed company is […]

ICSI Auditing standards -A guidance to the Members in Practice

By Kanakprabha Jethani | Executive Kanak@vinodkothari.com Background ICSI has recently issued four Auditing Standards[1] (‘Standards’) for the members in practice namely: CSAS-1 – Auditing Standard on Audit Engagement CSAS-2 – Auditing Standard on Audit Process and Documentation CSAS-3 – Auditing Standard on Forming of Opinion CSAS-4 – Auditing Standard on Secretarial Audit in order to […]

Need for permanent chairperson – post in listed companies: an analysis

by Smriti Wadehra (smriti@vinodkothari.com) Introduction Corporate governance standards world-over have highlighted the role of the chairperson in corporate boards of listed entities. There has also been a move recently as to separation of the role of the CEO and the chairperson, such that the person who is executive head of the company (CEO) is also […]

Trading window closure in case of debt listed company

CS Nitu Poddar, Senior Associate, Vinod Kothari & Company corplaw@vinodkothari.com   SEBI (Prohibition of Insider Trading) Regulations, 2015 (‘Regulations’) is applicable in relation to securities listed and proposed to be listed. Companies having its debentures listed are also required to comply with the provisions of the Regulations. The intent of the Regulations is to prohibit […]

Project Rupee Raftaar: An Analysis

-Kanakprabha Jethani | Executive Vinod Kothari Consultants Pvt. Ltd. kanak@vinodkothari.com, finserv@vinodkothari.com BACKGROUND The Working Group on Developing Avenues for Aircraft Financing and Leasing Activities in India, constituted by Ministry of Civil Aviation submitted its report[1] on measures for developing this industry in the country. The Working Group was formed to examine the regulatory framework relating […]

Snapshot of SEBI Board Meeting

By Corplaw Team (corplaw@vinodkothari.com) SEBI Board Meeting held on 27th June, 2019 has proposed certain amendments in various Regulations. We aim to briefly highlight the changes with analysis. 1.  Framework for issuance of DVR a)   Eligibility Company having Superior Rights (SR) shares will be permitted to do IPO of ordinary shares to be listed subject […]