– Sikha Bansal, Senior Partner and Simrat Singh, Senior Executive | corplaw@vinodkothari.com Legal basis for dividend entitlement The right of a shareholder to receive dividends is conferred under Section 123(5) of the Companies Act, 2013 (‘CA, 2013’). The corresponding obligations on the company are elaborated in Chapter VIII of the Act (Sections 123 to 127), […]
RBI mails to NBFCs to disregard DLG in expected loss computation – Vinod Kothari & Dayita Kanodia (finserv@vinodkothari.com) Background RBI has recently been directing NBFCs to compute ECL without factoring in the impact of DLGs obtained. This stance appears to stem from the regulator’s perception that fintech-issued guarantees carry inherent risk and may expose NBFCs […]
We are pleased to unveil “Listing Regulations on Securitised Debt Instruments and Security Receipts”, an in-depth commentary on the SEBI (Issue and Listing of Securitised Debt Instruments and Security Receipts) Regulations. The book offers practitioners, market participants, and legal professionals a comprehensive understanding of the evolving regulatory landscape for listed securitised products in India. Incorporating […]
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-Sikha Bansal (finserv@vinodkothari.com) Introduction The RBI has issued Draft Reserve Bank of India (Investment in AIF) Directions, 2025 (‘Draft Directions’), vide Press Release dated 19th May, 2025, marking a significant revision to the existing regulatory framework governing investments by regulated entities (REs) in Alternative Investment Funds (AIFs). These new directions, once finalised, will replace the […]
Neha Malu and Prerna Roy | resolution@vinodkothari.com NCLAT in the matter of SNJ Synthetics Limited v. PepsiCo India Holdings Private Limited, rejected the section 9 application filed by an MSME operational creditor on the ground that the amount of default (excluding interest accrued as per sec 15 and 16 of MSMED Act) was less than […]
-Archisman Bhattacharjee (finserv@vinodkothari.com) Introduction The Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits, and Services) Act, 2016 (‘Aadhaar Act’) was introduced with a clear vision: to ensure efficient, transparent, and targeted delivery of subsidies, benefits, and services, fostering good governance. While its preamble underscores these fundamental objectives, Aadhaar’s role has expanded far beyond its […]
– Dayita Kanodia (finserv@vinodkothari.com) Requirements to apply to all listed issuances, from financial and non-financial issuers Below are the major highlights of the SDI amendment regulations: SEBI on May 5, 2025 has issued the SEBI (Issue and Listing of Securitised Debt Instruments and Security Receipts) (Amendment) Regulations. 2025. It may be noted that the SDI […]
Team Resolution | resolution@vinodkothari.com The Supreme Court judgement in the matter of Kalyani Transco v. Bhushan Power and Steel Ltd., set aside the resolution plan for Bhushan Power and Steel Ltd., and directed liquidation, after almost 6 years the resolution plan was approved by National Company Law Tribunal, citing significant gaps in the conduct of […]