-Amends Reg. 29 (4) of SAST Regulations, 2011 dealing with disclosures relating to pledge By Simran Jalan (simran@vinodkothari.com) SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (SAST Regulations) provides requirement in relation to manner of acquisition, takeover, disclosure requirements, acquisitions triggering open offer etc. It is a common phenomenon to pledge the shares of […]
By Nikita Snehil (nikita@vinodkothari.com) (corplaw@vinodkothari.com) SEBI vide its Circular[1] dated December 7, 2018, has come out with the format for the disclosure of significant beneficial ownership. The said format has been inserted in the format of the shareholding pattern of specified securities, which is submitted by the entities under Regulation 31 of the SEBI (Listing […]
By Beni Agarwal (beni@vinodkothari.com) Introduction A recent advance ruling has thrown the financial industry off its balance. The pre-ruling opinion amongst the industry members has been refuted and yet another item has been brought within the ambit of GST, that is, penal interest or overdue interest. Before the aforesaid advance ruling, which we have discussed […]
By Simran Jalan (simran@vinodkothari.com) Introduction A company resident outside India may initiate business in India by setting up a subsidiary or branch office or liaison office or project office or any other place of business by whatever name called after taking prior approval of the Reserve Bank of India (RBI). Setting up any of the […]
– By Corporate Law Division, Team Vinod Kothari & Company (corplaw@vinodkothari.com) – Updated 17th February, 2023 Table of Contents Background Applicability Meaning of entities having listed securities Outstanding Long Term Borrowing Credit Rating Compliances required under LCB Framework Incremental borrowings Disclosure requirements Penal provisions Background The Government as well as the capital markets regulator SEBI […]
By Beni Agarwal (beni@vinodkothari.com)
By Financial Services Division, finserv@vinodkothari.com In the wake of the recent hues and cries of the entire country in anticipation of a liquidity crisis in the NBFC sector, the Reserve Bank of India, on 29th November, 2018, issued a notification[1] to modify the Securitisation Guidelines.The amendment aims to relax the minimum holding period requirements […]
By Richa Saraf and Ananya Raghavendra (resolution@vinodkothari.com) The insolvency resolution process of Binani Cements have been through various ups- and downs. On 19.11.2018, the Hon’ble Supreme Court in the case of Rajputana Properties Pvt. Ltd. v. UltraTech Cement Ltd. & Ors. dismissed Dalmia Bharat’s plea to seek stay on Ultratech’s bid for Binani Cement, upholding […]