– Vinod Kothari and Payal Agarwal | corplaw@vinodkothari.com A recent UNCTAD Report[1] highlights the financing gap in sustainable development – citing the need for around $4 trillion additional investment annually for developing countries. India is no exception, in fact, various studies[2] suggest the high sustainable finance gap in the country. As the need for sustainable […]
Payal Agarwal l payal@vinodkothari.com The Union Budget 2024 refers to permitting a flexible mode for financing leasing of aircrafts and ships, and pooled funds of private equity through a variable capital company (VCC) structure. Variable Capital Companies (VCCs), as the name suggests, are companies in which the capital is not static, that is to say, […]
– Payal Agarwal, Associate | corplaw@vinodkothari.com The debate around levy of GST on corporate guarantee extended without or with inadequate consideration has been settled with the insertion of sub-rule (2) to Rule 28 of the Determination of Value of Supply Rules (“Valuation Rules”), effective from 26th October, 2023. Sub-rule (2) of Rule 28 specifies a […]
– Team Corplaw (corplaw@vinodkothari.com) Last updated on October 02, 2024
-Payal Agarwal, Senior Manager | payal@vinodkothari.com RBI has released a Draft Disclosure framework on Climate-related Financial Risks, 2024 (“Disclosure Framework”) on 28th February, 2024 proposing to make disclosure of climate-related financial risks mandatory for RBI-regulated entities. The proposed disclosures are based on the four thematic areas or pillars – (i) Governance, (ii) Strategy, (iii) Risk […]
– Payal Agarwal, Senior Manager (corplaw@vinodkothari.com) In a recent Supreme Court ruling in the matter of Association for Democratic Reforms & Anr. v/s Union of India, Electoral Bond Scheme (EBS/ Scheme) was declared as unconstitutional, including certain amendments to section 182 of the Companies Act, 2013 (“CA”), amended vide the Finance Act, 2017 as arbitrary […]
– MCA requires every company to designate person responsible for providing information with respect to beneficial interest in shares – Payal Agarwal, Senior Manager | corplaw@vinodkothari.com The concept of “beneficial owner” or BO is well-established under the Companies Act, 2013 by way of section 89 and 90 read with the rules made thereunder. The primary […]
MCA notifies mandatory dematerialisation for securities of private companies Two major amendments have been notified by MCA on 27th October, 2023 impacting all companies, and majorly the private companies. These include the Companies (Management and Administration) (Second Amendment) Rules, 2023 introducing the concept of “designated person” with respect to beneficial interest in shares of a […]
– Payal Agarwal, Manager (payal@vinodkothari.com) The consequences of climate change and the need for a positive climate action need no introduction in the present world. What once remained a matter of concern for the so-called “environmental activists”, gradually traveled their way to the government as countries committed towards achieving “net zero”. Climate action requires involvement […]