Entries by Staff Publication

GST Council brings down the rate of GST on used cars, besides others

By Abhirup Ghosh, (abhirup@vinodkothari.com, finserv@vinodkothari.com) The GST Council met for the 25th time on 18th January, 2018 to modify the GST law in order to tackle the difficulties being faced in the market. The Council recommended several changes to the law among and one of the change that has can cause a significant impact on […]

Abstaining creditors in CoC will not be counted in voting

Absenteeism in voting – an Oxymoron Nitu Poddar resolution@vinodkothari.com This note deals with the question whether, in determination of the assent at a Committee of Creditors in resolution proceedings, the votes of such creditors who (a) do not vote at all, at an electronic voting; or (b) abstain from voting at the meeting itself [collectively […]

An Insight on Direct Selling Guidelines, 2016 Pyramid Schemes vis-a-vis MLM

By Saloni Mathur (finserv@vinodkothari.com) Introduction There has been a shift in the paradigm of the performance of the direct selling agents. The role and responsibilities of the direct selling agents have witnessed a revolution, where they are required to comply with certain codes as prescribed by the government from time to time, and follow certain […]

Rights of Defaulting Promoters to submit Resolution Plan

Vallari Dubey resolution@vinodkothari.com   In the matter of RBL Bank Ltd. v. MBL Infrastructures Ltd., Order of NCLT dated 18th December, 2017. Background of the Case: In the case of RBL Bank Ltd. v. MBL Infrastructures Ltd.[1] a resolution plan, submitted by the promoter was rejected after the Insolvency and Bankruptcy (Amendment) Ordinance, 2017 (‘Ordinance’), […]

SEBI revisits EBP mechanism for issuance of debt securities

By Vinita Nair and Chahat Jain (corplaw@vinodkothari.com) SEBI vide circular SEBI/HO/DDHS/CIR/P/2018/05 dated January 05, 2018 issued Electronic book mechanism for issuance of debt securities on private placement basis, 2018 (‘Circular, 2018’)[1] has repealed circular No. CIR/IMD/DF1/48/2016 dated April 21, 2016 (‘Circular, 2016’)[2] which mandated usage of electronic book mechanism for issuance of debt securities on private placement […]