Entries by Staff Publication

FAQs on GST on Directors’ Remuneration

By Ankit Bhalotia ,gst@vinodkothari.com The GST law, introduced with effect from 1st July, 2017, makes a major rejig in the indirect tax system in the country. With its introduction, several concepts have been brought up, playing with the minds of the people. One such concept that has created havoc is the reverse charge mechanism and […]

RBI revamps Directions for issuance of Commercial Paper

By Richa Saraf, legal@vinodkothari.com The Reserve Bank of India (RBI) vide Notification No. MRD.DIRD.01/CGM (TRS) – 2017 dated August 10, 2017 has issued Reserve Bank Commercial Paper Directions, 2017 (“New Directions”). The new guidelines are in supersession of the existing directions on Commercial Paper in the Master Directions on Money Market (Section II) RBI/FMRD/2016-17/32 dated July […]

Comparative Analysis of changes in Standards on Leasing over time

By Ankit Bhalotia,  (finserv@vinodkothari.com)   Introduction Accounting  for  lease  has  been  a  concern  for  the  leasing  industry  from  very  beginning  of  the industry. Over  the  years,  the  leasing  industry  has  grown  under  the  shadow  of  the  accounting  standards. There has been a revolutionary change taking place in the leasing standards which forms a basis for […]

NHB softens provisioning norms for HFCs

By Anita Baid, (legal@vinodkothari.com) The National Housing Bank (NHB) vide its notification no. NHB.HFC.DIR.18/MD&CEO/2017[1] dated 02nd August, 2017 has made certain amendments to the Housing Finance Companies (NHB) Directions, 2010 (‘Directions’). The provisions of the Directions is applicable to every housing finance company (HFC) registered under section 29A of the National Housing Bank Act, 1987. […]

SEBI mandates timely disclosure of ‘default’: intends to fill credit information gaps

By Vallari Dubey, (vallari@vinodkothari.com) The Securities and Exchange Board of India (‘SEBI’) has vide circular dated 4th August, 2017[1], issued a set of additional disclosures for default in payment of interest/repayment of principal amount on loans from banks/financial institutions, debt securities etc. the same are to be complied with by all listed entities, The circular […]

No separate Application is required where 100% Subsidiary seeks Amalgamation with its Holding Company: NCLT Bengaluru Bench

In the recent ruling of National Company Law Tribunal[1]Bengaluru Bench (‘the Hon’ble NCLT’), the Bench has held that no separate application is required to be filed by the transferee company in case of merger of a wholly owned subsidiary company with its parent company by virtue of scheme of amalgamation. Below we discuss the same […]