SEBI Informal Guidance Scheme, 2025
– Kunal Gupta | corplaw@vinodkothari.com
Author Archive for: Staff
Entries by Staff
RBI Master Directions 2025:Consolidated RegulatoryFramework for NBFCs
– Team Finserv | finserv@vinodkothari.com Read our articles on the topic here:
Call for Clarity: Employee Dues under IBC in light of the Social Security Code
Sikha Bansal and Neha Malu | resolution@vinodkothari.com Treatment of employee dues under IBC has always been a matter of debate. While various judicial precedents have interpreted the provisions of the Code (see discussion later), however, the dilemma may revive with the notification of Code on Social Security, 2020 (“Social Security Code”). The Social Security Code […]
The will of the borrower: Do Balance Transfers Count as Loan Transfers?
-Dayita Kanodia & Chirag Agarwal | finserv@vinodkothari.com The RBI, as part of its recent consolidation exercise, has consolidated various instructions applicable to NBFCs and issued 34 Master Directions. Our analysis of these can be accessed here. Loan transfers are now governed by the RBI (Non-Banking Financial Companies – Transfer and Distribution of Credit Risk) Directions, […]
Private Credit AIFs: Lenders of Last Resort?
Updated as on 7th January, 2025 Simrat Singh | Finserv@vinodkothari.com Private credit is becoming a new force in India’s lending ecosystem. As traditional banks and NBFCs operate under the strict regulations on capital, exposure and asset quality norms, they are often unable, or unwilling to cater to certain borrowers. In addition, for banks in particular, […]
Draft RBI Directions: Banks may finance Acquisitions
– Conditions for acquisition finance, prudential limits and new LTV requirements for various capital market exposures – Payal Agarwal, Partner | payal@vinodkothari.com The Amendment Directions have been issued by RBI effecting changes as per the draft norms. See an article on the same here – https://vinodkothari.com/2026/02/rbi-permits-leveraged-buy-outs-through-bank-finance/ Capital markets are subject to higher fluctuations and volatility, […]
A voice without a vote: IBBI proposes OCs as observers amongst unrelated FCs in CoC
Team Resolution | resolution@vinodkothari.com Where the CoC has no regulated financial entity and a single unregulated financial creditor holds over 66% of the voting share, effectively dominating all decisions, IBBI in its Discussion Paper dated 17th November, 2025 proposed that the five largest operational creditors will also be brought into the CoC meeting, giving them […]
Microfinance: State of the Industry and Way Forward
This episode of Mahattva – Voices that Matter, brings together the heads of two prominent MFIs. Microfinance has been attracting attention of the entire financial system, with concerns as well as with significant optimist curiosity. Clearly, this is one segment of the financial system where financial inclusion is at its very core. We intend to […]
The Hidden Hand: Understanding Beneficial Ownership in case of Trusts
Saket Kejriwal, Assistant Manager | corplaw@vinodkothari.com, finserv@vinodkothari.com Background The structure of a trust inherently creates a separation of roles, typically involving three distinct parties viz. the author/settlor, trustee, and beneficiaries. While the control/operations rests with the trustee, economic benefit lies with the beneficiaries, and the settlor may continue to exert influence through the trust deed […]