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Recent News From Corp Comm Legal

  • Insolvency and Bankruptcy Code amendments - an ongoing saga

    Insolvency and Bankruptcy Code amendments - an ongoing saga

    Published: 04 Feb 2018

    There is no end to IBC changes. Like it happened in demonetisation exercise, IBC provisions are undergoing frequent changes. Last month only, the Government issued an ordinance to amend the Insolvency and Bankruptcy Code (IBC) with the intent to stop persons (including promoters) with a non-performing account of more than a year who had not cleared the overdue amount, interest and other charges ...

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  • Corporate cleansing - a double edged sword

    Corporate cleansing - a double edged sword

    Published: 03 Feb 2018

    As it widely known, the Ministry of Corporate Affairs (‘MCA’), in a major crackdown has de-registered 2,26,166 companies and disqualified all their directors (more than 300,000) in 2017. After receiving representations from various de-registered companies and disqualified directors, government has introduced a scheme with the intent to provide defunct companies an opportunity to remedy the defau...

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  • SEBI tightening the screws on Credit Rating Agencies

    SEBI tightening the screws on Credit Rating Agencies

    Published: 03 Feb 2018

    Credit ratings play a very important role in providing guidance about the financial credibility of companies seeking public funds. Therefore, Credit Rating Agencies (CRA) bear a heavy responsibility to come out with credible credit ratings. Ratings dispensed by CRAs have the ability to garner / manipulate the trading and financial transactions contemplated through instruments by the companies in t...

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  • Fixed term employment in India

    Fixed term employment in India

    Published: 02 Feb 2018

    The Government is considering a proposal to allow fixed term employment to empower the employers of all sectors to recruit the employees on fixed term basis for short term projects. The underlying reason for this development is that government allowed textile industry to retain employees on fixed term basis following which it received demands from various sectors to allow such sectors to engage ...

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  • Satyam saga - revisited

    Satyam saga - revisited

    Published: 02 Feb 2018

    You might have read news regarding PWC’s disqualification for 2 years from auditing. Why did it happen? 8 years ago, almost to the date, I received an email message – Satyam scandal with a copy of an email apparently from Ramalinga Raju, Chairman of Satyam Computers to SEBI and stock exchanges. Satyam used to be the bellwether for corporate governance in India bagging highest awards at every...

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  • Streamlining the Mutual Funds industry

    Streamlining the Mutual Funds industry

    Published: 01 Feb 2018

    The Securities Exchange Board of India (SEBI) announced a garden-fresh ruling in relation to mutual funds placing a 10 percent cross-shareholding cap in mutual funds with the object of sidestepping potential conflict of interest in the management of mutual funds by asset management companies. A mutual fund is a professionally-managed investment scheme, usually run by an asset management com...

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  • Detecting the defaulters early ...

    Detecting the defaulters early ...

    Published: 01 Feb 2018

    The Securities Exchange Board of India (SEBI) is planning to resuscitate the pending proposal (loan default disclosure by companies) that imposes mandatory obligation on all listed companies to disclose loan defaults to the stock exchanges the moment such companies have the knowledge of loan defaults. The proposal was destined to be instigated on October 1, 2017 – it was put on hold due to the p...

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  • Transcending into a digital world

    Transcending into a digital world

    Published: 31 Jan 2018

    Nothing is permanent, except change. Isn’t it? We are living in this era of globalization and digitalization and increasing prospects of companies all over the globe to renovate office administration and management from outdated book-keeping office administration process to technology integrated (digitalized) company management with the objective of zero paper usage policy. Every company is em...

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