Entries by Staff Publication

Overview of Insolvency and Bankruptcy (Amendment) Ordinance, 2018

By Sikha Bansal,(sikha@vinodkothari.com) (resolution@vinodkothari.com)   Post the Insolvency Law Committee’s Report recommending an overhaul in the Insolvency and Bankruptcy Code, 2016, the Government has passed the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, vide Notification dated 6th June, 2018, in an attempt to set things right. No doubt, IBC has triggered positive vibes in the […]

GST on assignment of receivables: Wrong path to the right destination

Team Vinod Kothari Consultants P. Ltd   There has been a lot of uncertainty on the issue of exigibility of direct assignments and securitisation transactions to goods and services tax (GST). While on one hand, there have been opinions that assignments of secured debts may be taxable being covered by the circuitous definition of “actionable […]

Fair Market Value – as per Company Law perspective

By Nikita Snehil | nikita@vinodkothari.com The term ‘Fair market value’ has been used hundreds of times in the Income Tax Act, 1961, however, the same has also been given due weightage under the Companies Act, 2013. The present Article intends to explain the meaning of the term ‘Fair Market Value’, its significance and its relevance […]

SEBI proposes to streamline the ICDR Regulations

By Pammy Jaiswal, (pammy@vinodkothari.com) & Nikita Snehil (nikita@vinodkothari.com) The SEBI had constituted the Issue of Capital & Disclosure Requirements Committee (‘ICDR Committee) under the Chairmanship of Mr. Prithvi Haldea in June, 2017, to review the ICDR Regulations. The ICDR Committee suggested certain policy changes which were taken to the Primary Market Advisory Committee (‘PMAC’) of […]

Borrowing Cost from Company Law’s perspective

By Abhirup Ghosh, abhirup@vinodkothari.com & Nikita Snehil, nikita@vinodkothari.com Proper flow of funds within an organisation can be termed as the lifeline of the organization. In the course of the operation, each and every organization stands in need of money over and above their capital. Therefore, in order to meet the financial needs, they are bound to […]

System-driven Disclosures in Securities Market- Now extended to Non-Promoters

By Smriti Wadehra (corplaw@vinodkothari.com) Introduction SEBI vide its circular dated December 01, 2015[1] had introduced system driven disclosure in securities market. Under this initiative, a system was developed involving the Stock Exchanges, Depositories and Registrars and Share Transfer Agents (RTAs) for generating system based disclosures under Takeover Regulations and Insider Trading Regulations based on acquisition […]

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 […]