Entries by Staff

Immediate Actionables from the Quarter & Half Year ended September 30, 2021

Burhanuddin Dohadwala, Senior Manager | corplaw@vinodkothari.com      Updated as on: October 06, 2021 SEBI recently notified several amendments that become effective on various dates. In case of equity listed entities, SEBI vide Circular dated May 31, 2021[1] mandated disclosures around loans/ guarantees/comfort letters/ security provided by the listed entity, directly or indirectly to promoter/ promoter […]

Loan Participations: The Rising Star of Loan Markets?

Anita Baid | anita@vinodkothari.com Introduction  The Reserve Bank of India (RBI) has issued the new guidelines, viz. Master Directions- Reserve Bank of India (Transfer of Loan Exposures) Directions, 2021 and Master Directions- Reserve Bank of India (Securitisation of Standard Assets) Directions, 2021, on September 4, 2021, that replaces and supersedes the existing regulations on securitisation […]

Micro-consultative mode in liquidation: Will liquidations become more efficient?

[Sikha Bansal is Partner at Vinod Kothari & Company and can be reached at resolution@vinodkothari.com] This article was first published on IndiaCorpLaw Blog and can be read here IBBI recently came up with IBBI (Liquidation process) (Second Amendment) Regulations, 2021 (‘Amendment Regulations’) making certain important changes in the provisions pertaining to liquidation process under Insolvency […]

Contractual Freedom Vs. Corporate Rescue: Taking Anti-Deprivation Rule beyond Gujarat Urja ruling

Vinod Kothari, Managing Partner and Sikha Bansal, Partner Insolvency is a state of insufficiency – as such, the need to protect ‘whatever is there’ is quite obvious. The rule of ‘anti-deprivation’ offers that protection. Under normal circumstances, the autonomy of parties entering into contracts is well-established. However, in insolvency, there is an inherent tension between […]

Resolution Plans – A Non returning visa to the resolution land

Anushka Vohra | Deputy Manager (corplaw@vinodkothari.com) On September 13, 2021, in the matter of Ebix Singapore Private Limited v. Committee of Creditors of Educomp Solutions Limited[1], the Apex Court ruled that a Resolution Plan, once submitted with the Adjudicating Authority (“AA”) for approval, cannot be subsequently withdrawn at the behest of the Resolution Applicant. While this […]

SEBI approves stricter norms for RPTs

CS Vinita Nair | Vinod Kothari & Company September 29, 2021 SEBI in its Board meeting held on September 28, 2021 approved the amendments in RPT framework that were proposed by the Working Group[1] (‘WG’) in January, 2020. The notification amending SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) is awaited. Certain amendments […]

Can companies avail GST benefits on CSR spending?

– By Harsh Juneja | Executive (corplaw@vinodkothari.com) Background Section 135(5) of the Companies Act, 2013 (‘the Act’) requires every eligible company (as per section 135(1)) to spend at least 2% of the average of net profits of immediately preceding 3 financial years towards Corporate Social Responsibilities(‘CSR’) activities. The CSR spending may sometimes include contributions made […]