– Megha Mittal [resolution@vinodkothari.com] The Hon’ble NCLAT vide its order Martin SK Golla v. Wig Associates, 2019[1] has set aside the order of the Adjudicating Authority which had accepted a one-time settlement-cum-resolution plan submitted by a connected person of Corporate Debtor, who later on, after the implementation of section 29A became ineligible to submit a […]
RBI proposes uniform regulatory framework for the Microfinance Sector ( finserv@vinodkothari.com ) The microfinance sector, in India, has proved to be fundamental for promoting financial inclusion by extending credit to low-income groups that are traditionally not catered to by lending institutions. The essential features of microfinance loans are that they are of small amounts, with short […]
A comparative analysis between the Companies Act, SEBI Guidelines and SEBI Circular dated 18th Oct. 2019 – Ajay Kumar K V | Manager (corplaw@vinodkothari.com) Introduction The Reserve Bank of India has issued Guidelines[1] for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs) under Section 30(1A) […]
Abhishek Saraf, Manager and Payal Agarwal, Executive (corplaw@vinodkothari.com) Background The Business Responsibility and Sustainability Reporting (“BRSR”), originating from the MCA report on Business Responsibility Reporting, has found its way into the regulatory provisions by way of an amendment to the Regulation 34(2)(f) of the Listing Regulations[1], notified on 5th May, 2021. Further, SEBI vide circular dated […]
– Megha Mittal, Associate ( mittal@vinodkothari.com ) Factoring as an age-old concept has stood the test of time as it enabled businesses to resolve the cash flow issues, rendered liquidity, facilitated uninterrupted services and cushioned businesses against the lag in the billing cycles. Also the merit of the product lies in the simplicity of the […]
-SEBI’s new circular provides further ease of access of information Payal Agarwal, Executive | Vinod Kothari and Company ( corplaw@vinodkothari.com ) Introduction SEBI, the capital market regulator in India, has brought a series of amendments in the month of May, 2021 amending all the major regulations applicable to the entities under its regulatory ambit. The […]
SEBI’s move to strengthen transparency Pammy Jaiswal| Partner| Vinod Kothari and Company corplaw@vinodkothari.com Background It has always been interesting to see how SEBI takes various steps to increase the level of transparency for augmenting the level of corporate governance in a listed company. Recently, SEBI notified the changes under the SEBI Listing Regulations on 6th […]