Workshop on Recent regulatory developments for listed entities: critical changes under LODR and PIT Regulations
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Online Workshop on Fair Lending Practices: NBFCs and HFCs
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Workshop on Intricacies of Ind AS 109 for regulated lenders
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Workshop on Cashflow modelling and structuring Securitisation and pool transfers
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G20/OECD’s Corporate Governance Principles, 2023
Ankit Singh Mehar, Executive | corplaw@vinodkothari.com
The G20 leaders in the recent G20 Summit held on 8th -10th September, 2023, endorsed the revised ‘G20/OECD Principles of Corporate Governance’ (‘Revised Principles’). The Revised Principles replace the extant set of principles released in 2015 in light of the evolution in capital markets and global economy, following a review of the erstwhile principles over a period from 2021-2023.
As stated in the Summit Declaration, the Revised Principles have been endorsed by the G20 leaders “with the aim to strengthen policy and regulatory frameworks for corporate governance that support sustainability and access to finance from capital markets, which in turn can contribute to the resilience of the broader economy.”
The Revised Principles, besides making alterations to the existing principles, also introduce two new chapters, viz.,
Chapter III – ‘Institutional investors, stock markets, and other intermediaries’ focussing on engagement of institutional investors with the investee company, essential disclosure requirement and management of conflict of interest pursuant to exercise of their key ownership rights.
Chapter VI – ‘Sustainability and resilience’ focussing on corporate governance policies for managing the risks and opportunities of sustainability and resilience
Below we summarise the key highlights of the Revised Principles.
Read more →Taxability of Corporate Guarantees under GST
– Dayita Kanodia, Executive | finserv@vinodkothari.com
A person who can’t pay gets another person who can’t pay, to guarantee that he can pay.
– Charles Dickens
Background
It is a common practice for companies to issue guarantees for loans taken by their group companies. When transactions happen between related parties, there is always a likelihood of them being not at arm’s length.
Accordingly, this has led to questions that whether such corporate guarantees given without any consideration shall be liable to GST. A Supreme Court ruling issued earlier this year has clarified that corporate guarantees issued without any consideration shall not be liable to service tax.
Therefore while the situation in case of levy of service tax has been clarified by the ruling, the same has led to a lot of ambiguities and questions for the levy of GST on such guarantees. This article aims to clarify the same.
Read more →REIT and InvIT unitholders with 10% aggregate holding get Board nomination rights
Avinash Shetty, Assistant Manager | corplaw@vinodkothari.com
Responsible Lending Conduct – Release of Movable/Immovable Property Documents on Repayment/Settlement of Personal Loans
– Eliza Bahrainwala & Shreshtha Barman, finserv@vinodkothari.com
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Investment valuation norms for banks: RBI aligns rules with global accounting standards
– Vinod Kothari | vinod@vinodkothari.com
Vide a 12th Sept notification, the RBI has brought in Master Directions for Classification, Valuation and Operation of Investment Portfolio of Commercial Banks. The new norms bring the accounting and valuation of investments by banks closer to global accounting standards.
While the apparent focus of these Directions would have been valuation of investment portfolios, however, the Directions may also impact investment policies and investment operations of banks as well.
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