Author Archive for: vishesh
Entries by Vinod Kothari Consultants
NBFCs in troubled waters as Madras Court Bench rules in favour of RBI
The latest judgement by the Madras HC as on 22nd April, 2019 has set aside an earlier single judge order in January this year, and ruled in favour of RBI. RBI argued that there was an appeal remedy available and the companies instead of filing writ petitions with the court could have approached the appellate […]
2019 Securitisation volumes in India reach record high
By Falak Dutta (finserv@vinodkothari.com) Up, Up & Above! Yet another year went by and Indian securitization market certainly had a year to rejoice. Starting from the volume of transactions to innovative structures, the market has everything to boast about. Before we discuss each of these at length, let us take stock of the highlights first: […]
Concerns on Going Concern: Proposed amendments in Liquidation Regulations need relook
– Vinod Kothari The possibility of going concern sales in liquidations, visualised by Adjudicating Authorities in several early cases, got a regulatory recognition vide IBBI (Liquidation Process) (Second Amendment) Regulations, 2018. Since then, there has been a lot of work on how exactly will going concern sale work in liquidation. Our previous write- ups […]
Anomaly relating to much awaited e-form DPT-3
By CS Smriti Wadehra | corplaw@vinodkothari.com Introduction MCA on January 22, 2019 had issued a Notification[1] prescribing certain amendments in the Companies (Acceptance of Deposits) Rules, 2014 (‘Rules’) requiring every company (except government companies) to file: a return of deposit; particulars of transaction not considered as deposit; or both It is a one-time filing […]
Understanding ACTIVE and its difficulties
Dibisha Mishra (dibisha@vinodkothari.com) (corplaw@vinodkothari.com) Ministry of Corporate Affairs (‘MCA’) vide its notification dated 21st February, 2019 brought the Companies (Incorporation) Amendment Rules, 2019 which shall be effective from 25th February, 2019. The aforesaid amendment mandated every company incorporated on or before the 31st December, 2017 to file e-form ACTIVE (Active Company Tagging Identities and […]
E-form AGILE- Consolidation of various registrations along with company incorporation
By Dibisha Mishra (dibisha@vinodkothari.com) (corplaw@vinodkothari.com) Introduction There has been a series of changes brought in by the Ministry of Corporate Affairs (“MCA”) in recent years to bring in better transparency, easier compliance and weed out hurdles in the way of Ease of doing Business. In furtherance of the same, MCA vide notification dated 29th March, […]
NBFCs get another chance to reinstate NOF
By Falak Dutta, (finserv@vinodkothari.com) Since the Sarada scam in 2015, the Reserve Bank of India (RBI) had been on high alert and had been subsequently tightening regulations for NBFCs, micro-finance firms and such other companies which provide informal banking services. As of December 2015, over 56 NBFC licenses were cancelled[1]. However, recently in light of […]
Schemes of Arrangement in Liquidation: A New Ray of Hope?
-By Vinod Kothari (resolution@vindokothari.com) The recent rulings of appellate judicial and quasi-judicial authorities in India permitting the pursuit of schemes of arrangement even after initiation of liquidation proceedings may have sounded surprising to many. However, the history of schemes of compromise and arrangement is indeed replete with examples of such arrangements seeking to bail out […]