Entries by Staff Publication

Additional items to be taken up in AGM of 2018- recent regulatory changes!

By Munmi Phukon, Principal Manager, Vinod Kothari & Company (corplaw@vinodkothari.com) MCA vide notification dated May 7, 2018[1] has notified 28 Sections of the Companies (Amendment) Act, 2017 (Amendment Act) in Phase III. The same has been made effective from May 7, 2018[2]. SEBI also, pursuant  to  the  recommendations  made  by  Uday  Kotak  Committee  Report,  notified […]

GST on Securitisation Transactions

Nidhi Bothra Sikha Bansal finserv@vinodkothari.com Transitioning into GST, assessing its impact on business and taking appropriate measures to bring about tax neutrality/ efficiency are the prime concern for all and sundry. GST also has an impact on the securitisation transactions in India which now happens to be Rs. 84,000 crores odd industry. In this Chapter […]

Non-compliance of Listing Regulations may lead to compulsory delisting

by Munmi Phukon ,(corplaw@vinodkothari.com) Introduction and Background SEBI, on May 3, 2018 came out with a Circular[1] (the “Circular” or “New Circular”) on uniform structure for imposing fines as a first resort for non-compliance with certain provisions of the Listing Regulations and the standard operating procedure (SOP) for suspension of trading. This circular is issued […]

ROC goes fishing for companies with subsidiaries beyond two layers

Munmi Phukon, Principal Manager, Vinod Kothari & Company (corplaw@vinodkothari.com) The country had witnessed the bulk of show cause notices sent to companies last year seeking evidence on their CSR expenditure, reporting, disclosure etc., though the Ministry’s stand on such notices and replies thereof is not yet known. After CSR, MCA has now seemed to shift […]

LIQUIDATION BEFORE RESOLUTION?

By Richa Saraf (resolution@vinodkothari.com) A survey by World Bank[1] pointed out that it took 10 years on an average to wind up/ liquidate a company in India as compared to 1 to 6 years in other countries. Such lengthy time-frames are detrimental to the interest of all stakeholders. The process should be time-bound, aimed at […]