Entries by Staff Publication

Governmment NBFCs to stand on equal footing

  Anita Baid, Senior Manager (anita@vinodkothari.com) Rajeev Jhawar, Executive (finserv@vinodkothari.com)   Section 2(45) of the Companies Act, 2013 defines a Government Company as – “any company in which not less than fifty-one per cent of the paid-up share capital is held by the Central Government, or by any State Government or Governments, or partly by […]

Sudden prohibition for CA Valuers

By Yutika Lohia, (yutika@vinodkothari.com) (finserv@vinodkothari.com) Introduction The income tax laws of our country have witnessed a lot vicissitudes over the years. Responding to the changing reforms as well as practices, the law makers have always tried to pace up with the dynamic economy. Chartered Accountants, in India, are widely accepted as tax professionals and in […]

Financial Exposure of Secured Creditors and The relevance of vertical comparison in Resolution

By Richa Saraf (richa@vinodkothari.com) Resolution process can be regarded as a mega- restructuring for which an insight into the ranking of claims of various creditors is pertinent. In most of the resolution plans, we can see that the financial creditors are paid a particular value as settlement of claims, and no specific provision exists as […]

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 […]