– Conditions for acquisition finance, prudential limits and new LTV requirements for various capital market exposures – Payal Agarwal, Partner | payal@vinodkothari.com Capital markets are subject to higher fluctuations and volatility, and hence, Capital Market Exposures (CME) carry a higher risk, naturally requiring higher level of control and prudential norms by the regulator. In a […]
– Finance Bill 2026 omits deemed dividend treatment on buyback consideration – Payal Agarwal, Partner | corplaw@vinodkothari.com Our quick bytes on Union Budget 2026 can be accessed here – https://vinodkothari.com/2026/02/quick-bytes-on-union-budget-2026/ The recent Finance Bill 2026 brings relief to investors in the form of changes in taxation for buyback consideration. With the omission of sub-clause (f) […]
– Payal Agarwal, Partner | Vinod Kothari & Company | corplaw@vinodkothari.com Year 2025 will go down in the history of independent India as the year of the most brisk legislative activity – mostly by way of consolidation of some of the major laws. Income Tax Act, labour laws, securities markets, IBC, RBI Regulations etc – […]
– Payal Agarwal | payal@vinodkothari.com – Aligns intra group exposure norms with Large Exposure Framework; junks a 2016 framework for “large borrowers” On 4th December, 2025, less than a week after the massive consolidation exercise of RBI regulations, the RBI carried out amendments vide Reserve Bank of India (Commercial Banks – Concentration Risk Management) Amendment […]
– Clarification provided in line with exemptions available to NBFCs – Payal Agarwal, Partner | payal@vinodkothari.com Section 186 of the Companies Act, 2013 specifies compliance requirements to be followed by a company in granting of loans, making investments, providing guarantee or security to any person or body corporate. For entities engaged in such activities in […]
Regulatory threshold enhanced to Rs. 5000 crore, misalignments in CG norms with equity listed cos straightened – Payal Agarwal, Partner | corplaw@vinodkothari.com – Updated on January 23, 2026 Since the introduction of High Value Debt Listed Entities (HVDLEs) as a category of debt-listed entities placed on a similar pedestal to equity-listed entities in terms of […]
– SEBI notifies light-touch regulations for AIFs in which only Accredited Investors are investors and flexibilities for Large Value Funds (LVFs) – Payal Agarwal, Partner | corplaw@vinodkothari.com This version: 20th November, 2025 Since its introduction in 2021, the concept of Accredited Investors (AIs) has been through some changes. A Consultation Paper was published on 17th […]
– Payal Agarwal, Partner | payal@vinodkothari.com Alternative Investment Funds (AIFs) are private investment vehicles registered with and regulated by SEBI. Private investment vehicles, as is understood, are investment vehicles that pool investments from investors on a private basis, and make investments in investee entities based on the investment objectives disclosed to the investors. The returns […]
– Payal Agarwal, Partner | finserv@vinodkothari.com Probably the first in India, green securitisation has finally found an entry with the recent issuance of pass-through certificates backed by residential rooftop solar loan receivables in India. The loans were originated by a ‘green-only’ NBFC focussed on climate-positive lending. The present issuance is in the form of green […]
– Payal Agarwal, Partner | corplaw@vinodkothari.com ESG Debt Securities have been formally recognised in India through its inclusion in the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 (‘NCS Regulations’) vide the 3rd Amendment Regulations, 2024. While the term was defined under Reg 2(1)(oa) of the NCS Regulations, the framework for issuance and listing […]