-Kanakprabha Jethani kanak@vinodkothari.com, finserv@vinodkothari.com Published on April 22, 2019 | Updated as on April 22, 2020 Background April 2019 marks the introduction of a structured proposal[1] on regulatory sandboxes (“Proposal”). ‘Sandboxes’ is a new term and has created a hustle in the market. What are these? What is the hustle all about? The following article […]
-By Resolution Team, Vinod Kothari & Company (resolution@vinodkothari.com ) Liquidators under the Liquidation Regulations may be paid either based on a fee fixed by the Committee of Creditors [Reg 4 (2)], or where the Committee has not fixed such fees, based on the scale provided in Reg 4 (3) [“scale-based” or “scalar” fees]. There are […]
By Vinod Kothari & Sikha Bansal (resolve@vinodkothari.com) Present-day businesses sweep across multiple entities, such that the “enterprise” consisting of multiple entities, often in multiple jurisdictions, is referred to as a “group”. While accounting standards and securities market regulators have moved on to the concept of “business groups”, the ghost of the 19th century ruling in […]
-By Richa Saraf (richa@vinodkothari.com); (resolve@vinodkothari.com) Initiation of insolvency proceedings, whether by creditors or by the debtor himself, may be compared with the Brahmastra: as the latter cannot be retracted without killing the target, the former, once admitted, cannot be withdrawn. However, after all, any insolvency resolution process is a case of a mutual contract between […]
By Abhirup Ghosh & Smriti Wadehra (abhirup@vinodkothari.com) (smriti@vinodkothari.com) Introduction Usage of common brand is a common practice that we notice among companies which are part of large conglomerates. Often the brands created by one single entity of a group are used by its related parties, however, these transactions are often structured with differential pricing terms […]
By Dibisha Mishra (dibisha@vinodkothari.com) Updated as on April 26, 2019 Introduction Reserve Bank of India (RBI), in its Statement on Development and Regulatory Policies[1] dated April 04, 2019, stated its intention to extend the same to the remaining notified classes of NBFCs as well, by the end of April, 2019. Ombudsman Scheme for Non-Banking Financial Companies, […]
-Ruling of Bhavesh Pabari overrules Roofit Industries By Smriti Wadehra (smriti@vinodkothari.com) A three member Bench of the SC recently overruled its earlier decision in Roofit Industries Ltd vs SEBI, and provided a controlled discretion to the Adjudicating Officer in fixing penalties for offences under the SEBI Act as well Securities Contract Regulation Act (SCRA) as […]