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FRDI Bill: Soon to be put into action by Niddhi Parmar

The speed with which the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “Code”) was enacted; the Financial Resolution and Deposit Insurance (FRDI) Bill, 2016 (hereinafter referred to as “FRDI Bill”) will soon see the light of day1 . Both the Code and FRDI Bill is expected to provide a comprehensive resolution mechanism for […]

Amendments to the SEBI (Debenture Trustee) Regulations, 1993 by Somesh Lund

The Securities and Exchange Board of India (SEBI) in its board meeting held on 26 April 2017 [1] has approved the amendments to the SEBI (Debenture Trustee) Regulations, 1993[2] (hereinafter referred to as “Regulations”)as proposed in the consultative paper issued on 16 February 2017[3].The consultative paper was placed on SEBI’s website and suggestions were invited. […]

SEBI’s proposal for more stringent Monitoring of Utilization of Issue Proceeds, by Somesh Lund, 22nd May, 2017

SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009[1] (ICDR Regulations) requires that while raising funds from the public, the company has to mention the object for raising the fund. Thus to maintain the integrity of the above clause, SEBI in its board meeting conducted on April 26, 2017[2]  has proposed stringent rules and provisions […]

Framework for consolidation and re-issuance of debt securities issued under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008, by Somesh Lund, 22nd May, 2017

The Companies Act,1956 had provisions regarding the consolidation and reissuance of debt securities under section 121.This section gave the company power to keep the same security alive for the purpose of re-issue after it’s been redeemed. This helped the company to increase liquidity in the secondary debt market. However Companies Act, 2013 was silent on […]