-raises more questions than it settles. Nitu Poddar, Senior Associate ( corplaw@vinodkothari.com ) Setting off excess-spent on CSR Pursuant to Rule 7(3) of the CSR Rules, 2014, a company is allowed to take benefit of the excess amount (more than the requirement under section 135(5) spent by it on CSR activities upto three succeeding financial […]
Barsha Dikshit | corplaw@vinodkothari.com Himanshu Dubey | corplaw@vinodkothari.com The term ‘subsidiary’ or ‘subsidiary company’ as defined under the Companies Act, 2013[1] (‘Act’) refer to a company in which a holding company controls the composition of the Board of directors or may exercise at least 51% of the total voting power either on its own or […]
– Abhirup Ghosh (abhirup@vinodkothari.com) Background Like all assets, leased assets also undergo impairment. IAS 36 is the relevant standard for impairment of assets, however, IFRS 9 deals with impairment of financial assets, as well as lease receivables. Therefore, even though lease transactions are governed by IFRS 16, for impairment of leased assets, one has to […]
-Megha Mittal (mittal@vinodkothari.com) Amidst the various concerns addressed in the Board Meeting dated 25th March, 2021,[1] the Securities and Exchange of Board of India (‘SEBI’) extensively dealt with several issues identified with respect to Alternative Investment Funds (‘AIFs’), inter-alia a green signal to AIFs for investing in units of other AIFs; ambiguity regarding the scope of […]
– Sikha Bansal, Partner and Megha Mittal, Associate (resolution@vinodkothari.com) Preference shares, as the nomenclature suggests, represent that part of a Company’s capital which carries ‘preference´ vis-à-vis equity shares, with respect to payment of dividend and repayment of capital in case of winding up. However, the real position of preference shares may be quite baffling, given that […]
-Financial Services Team ( finserv@vinodkothari.com ) The purpose of reporting in accordance with International Financial Reporting Standards (IFRS) is to provide financial information about the reporting entity that is useful to various stakeholders in making decisions about providing resources to the entity. To satisfy the objective of IFRS/Ind AS reporting, to a large extent, based […]
-Platforms different from implementing agency -Pammy Jaiswal, Partner and Sachin Sharma, Executive (corplaw@vinodkothari.com) Crowdfunding Platforms Crowdfunding platforms are digital platforms which solicit funds for various ventures. They pave way for easy accessibility to a vast network of people through social media. Individuals, charities or companies can create a campaign for specific causes for contribution from anyone, […]
By Sharon Pinto & Sachin Sharma, Corplaw division, Vinod Kothari & Company (corplaw@vinodkothari.com) Background The inception of the idea of Social Stock Exchanges (SSEs) in India can be traced to the mention of the formation of an SSE under the regulatory purview of Securities and Exchange Board of India (SEBI) for listing and raising of capital […]