Entries by Staff Publication

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 […]

CONSTITUTIONAL VALIDITY OF INSOLVENCY AND BANKRUPTCY CODE

By Richa Saraf, (legal@vinodkothari.com) A writ petition has been filed in the Madras High Court, by Southern Polypet Private Limited, wherein the petitioner has challenged the Insolvency and Bankruptcy Code, 2016 (Code) as being contrary to the provisions of the Constitution of India and the Hon’ble High Court comprising Chief Justice Indira Banerjee and Justice M. Sundar has […]

RESTRICTIVE REMEDY UNDER SECTION 14 OF SARFAESI ACT

By Richa Saraf , (legal@vinodkothari.com) In a recent Calcutta High Court (“Hon’ble High Court”) ruling of Union Bank of India & Anr. v. State of West Bengal & Ors. (01.09.2017), the object and intention behind Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“SARFAESI Act”) was […]

Hundreds of LLPs may be vanishing soon

By Sandeep Kumar Mishra, (corplaw@vinodkothari.com) Introduction After issuing of show cause notices[1] (SCNs) for striking of names of more than 3 lakh non-operating companies, the Registrar has now taken the same action for LLPs. It seems that government has decided to heavily come down on existence of non-operative Limited Liability Partnerships (‘LLPs’) or say fake […]

Section 185: As proposed under the Companies (Amendment) Bill, 2017

With the very introduction of Companies Act, 2013, section 185, being a prohibitory section, was of great importance. There was no scope of any carve out or any route to apply to Central Government’s approval for non-applicability of such restrictions, unlike section 295 of the Companies Act, 1956. Further, the said section was applicable to […]

Revised Secretarial Standards- Key Amendments

By Team Vinod Kothari & Company, (corplaw@vinodkothari.com) Considering the various changes brought in the Companies Act, 2013, vide barrage of notifications, clarifications and amendments, there was a need to align the current Secretarial Standards viz. Secretarial Standard -1 (‘SS-1’) and Secretarial Standard -2 (‘SS-2’) with the changes in the provisions of the Act brought by […]

Troubled times: 21 firms seek winding up on their own

A number of cases the parent companies had been trying to invest in their subsidiaries but these investments had not taken off. – Vinod Kothari.   Read more

Brief of Amendments reflecting in FDI Policy, 2017

CS Vinita Nair, corplaw@vinodkothari.com The Department of Industrial Policy and Promotion (DIPP) has issued the Consolidated FDI Policy 2017 (Policy 2017)[1] incorporating the amendments made to the erstwhile Consolidated FDI Policy 2016 (Policy 2016) through various Press Notes issued during the year 2016 (Press Notes 5 and 6 of 2016 series) and 2017 (Press Note […]