Entries by Staff Publication

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 […]

Inapplicability of Limitation Act to Insolvency and Bankruptcy Code?

By Richa Saraf , (legal@vinodkothari.com)   In a recent National Company Law Appellate Tribunal (NCLAT) ruling of Neelkanth Township and Construction Pvt. Ltd. v. Urban Infrastructure Trustees Ltd.[1] (11.08.2017), several issues with regard to the Insolvency and Bankruptcy Code, 2016[2] (IBC) were discussed. One of the issues for consideration before the NCLAT was whether the […]

STATUS OF THE CLAIM MADE BY AN ALLOTTEE OF A PROPERTY AGAINST THE DEVELOPER OF SUCH PROPERTY

By Preksha Dugar, under the aegis of Vinod Kothari & Company Introduction: Delays in delivering possession by housing developers after receiving the consideration for the same to the respective allottees, has become a prominent issue in the recent times. The issue of the delays has been highlighted owing to the fact that despite incurring the […]