Tagging auditors and TCWG to make amends – Team Corplaw | corplaw@vinodkothari.com Introduction NFRA moved the needle, and it is to be seen if the ocean starts boiling.! A 7th Jan 2026 circular from NFRA, addressed to listed entities and their auditors, seemed like an attention-drawer to standards of auditing which are already there, and […]
– Team Corplaw | corplaw@vinodkothari.com
– Dayita Kanodia, Assistant Manager | finserv@vinodkothari.com Holding Companies whose primary intent is to invest in their group companies have lately faced a paradox with respect to the requirement of registration as a Core Investment Company (CIC). CICs are entities whose principal activity is the acquisition and holding of investments in group companies, rather than […]
By Archisman Bhattacharjee & Avikal Kothari | Finserv@vinodkothari.com Introduction On November 28, 2025, the Reserve Bank of India (“RBI”) issued the Reserve Bank of India (Non-Banking Financial Companies – Managing Risks in Outsourcing) Directions, 2025 (“Outsourcing Directions”), thereby repealing the erstwhile directions governing IT outsourcing and financial services outsourcing. For the purposes of this article, […]
– Vinod Kothari and Payal Agarwal | corplaw@vinodkothari.com Finance Bill, 2026 brings tax relief to investors for share buybacks, by partially restoring the position that existed before the Finance Bill 2024 amendment. The 2024 Finance Bill changed the taxability of buybacks to impose tax on buyback consideration, taxing the entire “receipt” as “dividend”, implying tax […]
Simrat Singh | finserv@vinodkothari.com When nature unsettles the ordinary course of life, the regulatory hand should neither be withdrawn nor clenched; it should extend a humane touch, easing distress and guiding the return of order. In this spirit, the RBI has released draft directions on Relief Measures in Areas Affected by Natural Calamities, setting out […]
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Simrat Singh | finserv@vinodkothari.com This year’s Economic Survey focuses less on the expansion of credit and more on the quality and sustainability of credit. In infrastructure financing for instance, the Survey notes that the emphasis shifts from the sheer scale of investment to project quality and risk allocation. In this short note, we explore major […]
Simrat Singh | finserv@vinodkothari.com The Economic Survey 2026 takes an honest view of India’s microfinance sector. Rather than celebrating credit growth alone, it frames microfinance as a household balance-sheet business, where the real test of success is whether borrowing improves stability and resilience at the last mile or not. NBFC-MFIs, as the primary delivery channel, […]
– Team Finserv | finserv@vinodkothari.com