Author Archive for: Staff
Entries by Staff
Whether a private company can accept deposits from HUF?
Vinita Nair | corplaw@vinodkothari.com Provisions of Law According to Section 2(31) of the Companies Act, 2013 ‘Deposit’ includes any receipt of money by way of deposit or loan or in any other form by a company, but does not include such categories of amount as may be prescribed in consultation with the Reserve Bank of […]
FAQs on compensation of Key Managerial Personnel and Senior Management under the Scale Based Regulatory Framework
Financial Services Division | (finserv@vinodkothari.com) RBI had introduced the Scale Based Regulatory Framework: A Revised Regulatory Framework for NBFCs vide a circular dated October 22, 2021. Para 3.2.3 (h) of the circular dealt with ‘Compensation Guidelines’ which required that NBFCs shall put in place a Board approved compensation policy in order to address issues arising out of […]
The Credit Card Business for NBFCs
RBI Directions on Credit Cards and Co-branded Credit Cards issued by NBFCs Aanchal Kaur Nagpal | Assistant Manager (finserv@vinodkothari.com) With the objective to provide general and conduct regulations relating to credit, debit and co-branded cards to banks and NBFCs, RBI, on April 21, 2022, has issued the Reserve Bank of India (Credit Card and Debit […]
Like banks, NBFC-UL to maintain CET-1 capital
Manner of computation of CET-1 for NBFCs prescribed by RBI – Qasim Saif | finserv@vinodkothari.com Addressing risk faced by NBFCs and enhancing their capacity to absorb such risk has been a key point of consideration under the Scale Based Regulations (SBR) for NBFCs. SBR also intends to curb regulatory arbitrage available to very large NBFCs […]
RBI notifies Lending Restrictions on NBFCs
In pursuance of the Scale Based Regulatory Framework -Anita Baid | Vice- President and Aanchal Kaur Nagpal | Assistant Manager The Scale Based Regulatory Framework, introduced by the Reserve Bank of India (‘RBI’), among several other things, proposed to regulate loans extended by NBFCs to their directors, senior officers and relatives thereof. In this regard, […]
Applicability of insider trading regulations to pooled investment vehicles: A discussion on extent and rationale
CS Sikha Bansal, Partner and CS Aisha Begum Ansari, Manager | corplaw@vinodkothari.com The article has also been published on IndiaCorpLaw – read here Regulatory framework for surveillance of DPs SEBI (Prohibition of Insider Trading) Regulations, 2015 (‘PIT Regs.’), although prohibit trading on the basis of unpublished price sensitive information (UPSI) by any “insider” (which includes […]
CLC recommends major reforms in corporate laws for ease of doing business
– MCA’s move to standardise, streamline and digitize – Payal Agarwal, Senior Executive | Vinod Kothari & Company (payal@vinodkothari.com) The Report of the Company Law Committee – 2022 (“CLC Report”) has proposed various important amendments to the existing Companies Act, 2013 (“the Act”) and some in the Limited Liability Partnership Act, 2008 (“LLP Act”). The […]