Entries by Staff Publication

The Financial Resolution and Deposit Insurance Bill, 2017: Key Highlights

By Nidhi Bothra, (nidhi@vinodkothari.com)   In March, 2016 a committee was constituted under the Chairmanship of Mr. Ajay Tyagi to draft and submit a bill on resolution of financial firms. In September, 2016, the Committee submitted its report and bill which was titled as “The Financial Resolution and Deposit Insurance Bill, 2016”[1] (Bill 2016). The […]

HC disallows parallel proceedings in NCLT and debt recovery tribunal

While the company moved the NCLT on its own seeking to obtain this ‘moratorium’, the guarantors found it an alibi to seek relief from the earlier DRT case – Richa Saraf. Read More

POWER TO ARREST AS PER COMPANIES ACT, 2013

By Smriti Wadehra, (corplaw@vinodkothari.com). The Companies Act, 2013 (‘Act’) empowers the Central Government to inspect the books of accounts of a company, to direct special audit, to order investigation into the affairs of a company and to launch prosecution for violation of the Act. These inspections are designed to ensure that the companies conduct their affairs […]

FAQs on Ind AS 116: The New Lease Accounting Standard

By Vijaylakshmi Agarwal (finserv@vinodkothari.com) Understanding Impact What is this new Standard all about, in brief? The standard provides a new method for lease accounting. Ind AS 116 is largely converged with IFRS 16 Leases. Ind AS is expected to replace Ind AS 17 WEF from its proposed effective date being for annual periods beginning on […]

SEBI aborts brightening of fine lines of control

By CS Vinita Nair, (finserv@vinodkothari.com) SEBI at its Board meeting held on March 12, 2016[1] discussed and decided on several important matters, one of them being approving for initiation of public consultation process regarding Bright line Tests for Acquisition of ‘Control’ under the SEBI (SAST) Regulations, 2011[2] (SAST). Acquisition of control, in case of listed […]

SEBI requires disclosure by banks in case of NPA divergence

By Mayank Agarwal, (finserv@vinodkothari.com) The banking sector is one of the pillars for economic development of any country, and any well balanced and healthy economy is largely dependent on a transparent and credible banking system. In recent years, the Indian economy has recognized the importance of a well-regulated and fundamentally strong banking framework and made […]

Standard Procedure for Valuation to be followed by HFCs.

By Shreya Routh, (finserv@vinodkothari.com)   Housing Finance Company (HFC) is a type of non-banking financial institution which is primarily engaged in the business of providing home loans and other related products. Unlike other Non-Banking Financial Companies which are governed under the regulatory framework of RBI, HFCs are regulated by the National Housing Banks (NHB). Collateral […]