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By Vallari Dubey (email@example.com) Background The Reserve Bank of India (RBI), on September 29, 2015, vide circular RBI/2015-16/193 had issued guidelines allowing Indian companies, Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) to issue rupee-denominated bond (masala bonds) overseas. Consequently, RBI, on April 13, 2016, vide circular RBI/2015-16/372 had reduced the tenure of […]
The Reserve Bank of India vide its powers given under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999, has issued a circular A. P. (DIR Series) Circular No.47, dated 7th June, 2017 bringing in fresh amendments to the existing provisions for ‘Issuance of Rupee denominated bonds overseas’ and as we call […]
In the era of technology, Information Technology (IT) aids plenty of resources to enhance the credit system of the country. Over the years, the Non-Banking Finance Company (NBFC) sector has grown in size and complexity. As the NBFC industry matures and achieves scale, its Information Technology /Information Security (IT/IS) framework, Business continuity planning (BCP), Disaster […]
Introduction MCA has added yet another Circular to the throng of circulars w.r.t. IEPF vide its general circular no 07/2017 dated 5th June, 2017. It provides that companies may, for transferring the shares to IEPF, follow the procedure as in the case of transmission.
Nominee directors are usually appointed by the financial institutions or investors (”Nominator”) on the board of the borrower company for the purpose of representing and safeguarding their interest thereof. Such Nominee directors are liable to perform duty towards the borrower company and its stakeholders under section 166 and other provisions of the Companies Act, 2013 […]
For filing application under the Insolvency and Bankruptcy Code, 2016 (IBC), the operational creditor has to serve a prior 10 days demand notice to the corporate debtor. The corporate debtor can either make payment on receipt of such demand notice or bring to the notice of the operational creditor existence of dispute, if any, and […]
The government has been scrambling since the demonetisation drive began to stay a step ahead of black money hoarders and to keep a check on transactions made by the companies. Many companies including NBFC’s are facing the wrath of the government’s policies moves in the recent times To add to it, the reporting of Statement […]
Background Every time a new Act is introduced, it brings with itself a fresh set of regulations. The Companies Act, 2013 (‘the Act’) is one astounding example of the same. What makes this Act stand out is the fact that it replaced decades old Companies Act, 1956. With the Act in force, several erstwhile concepts […]