Clipped from: https://www.thehindubusinessline.com/opinion/editorial/nfra-is-a-systemically-important-regulator-it-needs-an-independent-professional-as-its-head/article36719148.ece NFRA is a systemically important regulator. It needs an independent professional as its head The National Financial Reporting Authority (NFRA) will be headless
Category: IBC-SEBI
Include turnover, debt in Ind AS norms: NFRA – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/include-turnover-debt-in-ind-as-norms-nfra/article36722180.ece?homepage=true The National Financial Reporting Authority wants the criteria for mandatory applicability of Indian Accounting Standards (Ind AS) changed and expanded to cover aspects
Sebi to tweak fit and proper criteria; approves launch of silver ETFs | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/sebi-to-tweak-fit-and-proper-criteria-approves-launch-of-silver-etfs-121092801456_1.html Markets regulator Sebi has decided to tweak the criteria for determining ‘Fit and Proper Person’ and given its approval for the launch of
Sebi relaxes superior voting rights criteria, amends delisting rules – The Financial Express
Clipped from: https://www.financialexpress.com/market/new-norms-sebi-relaxes-superior-voting-rights-criteria-amends-delisting-rules/2339887/ The existing provisions required that an SR shareholder should not be part of a promoter group with a net worth more than Rs
NCLT allows Future Group to hold EGMs to sell businesses to Reliance | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/nclt-allows-future-group-to-hold-egms-to-sell-businesses-to-reliance-121092800934_1.html The deal would consolidate Mukesh Ambani’s position in the Indian retail industry, which is witnessing huge investments by multinational players like Amazon and
Sebi board clears frameworks for gold, social stock exchanges | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/sebi-board-approves-framework-for-gold-exchange-121092801007_1.html The instruments representing gold will be called Electronic Gold Receipts (EGRs) and will be notified as securities; Sebi board also approves proposal to
DHFL lenders set to mark ₹37,400 crore recovery this week, the biggest among NPAs this fiscal – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/dhfl-lenders-set-to-mark-37400-crore-recovery-this-week-the-biggest-among-npas-this-fiscal/articleshow/86572541.cmsSynopsis Lenders led by State Bank of India (SBI) are set to log recoveries of ₹37,400 crore this week, as Piramal Capital and Housing
22,000 compliances reduced, 103 offences decriminalised: Government – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/india/22000-compliances-reduced-103-offences-decriminalised-government/articleshow/86586972.cmsSynopsis With the aim to simplify, decriminalize & remove redundant laws, India has undertaken a massive exercise to reduce burdensome compliances. India has reduced more
Sebi: SEBI board revises delisting norms to streamline M&As – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/stocks/news/sebi-board-revises-delisting-norms-to-streamline-mas/articleshow/86585400.cmsSynopsis Under the current regulations, a company that is acquiring 49 per cent stake in a listed entity and sees its total stake rise
NCLAT adjourns hearing on Videocon lenders’ plea for fresh round of bidding – The Financial Express
Clipped from: https://www.financialexpress.com/industry/nclat-adjourns-hearing-on-videocon-lenders-plea-for-fresh-round-of-bidding/2339160/ The adjournment came after solicitor general Tushar Mehta, appearing on behalf of the CoC, sought time to submit a rejoinder to the reply-affidavit
Bad bank will merely camouflage NPAs – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/bad-bank-will-merely-camouflage-npas/article36683732.ece?homepage=true NARCL does not have the expertise to recover the transferred NPAs The government has announced the setting up of the National Asset Reconstruction
RBI permits lenders to sell fraud loans to ARCs, paves way for resolution | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/rbi-permits-lenders-to-sell-fraud-loans-to-arcs-paves-way-for-resolution-121092401209_1.html Legal onus regarding reporting, monitoring, filing of complaints with law enforcement agencies will move to the ARCs post the transfer Photo: Shutterstock The Reserve
CCI fines United Breweries Rs 750 cr for indulging in cartelisation – BusinessToday
Clipped from: https://www.businesstoday.in/latest/corporate/story/cci-fines-united-breweries-rs-750-cr-for-indulging-in-cartelisation-307565-2021-09-24 While UBL and CIPl have been fined Rs 750 crore and Rs 120 crore respectively, penalty has been waived off for AB InBev
Bad Bank: India Debt Resolution Co takes shape with three directors, Rs 50 cr capital – BusinessToday
Clipped from: https://www.businesstoday.in/industry/banks/story/bad-bank-india-debt-resolution-co-takes-shape-with-three-directors-rs-50-cr-capital-307396-2021-09-23 There are plans to attract professionals in the management of affairs of the IDRCL but there is also a possibility of both public
Accounting regulator raps ‘EY arm’s’ audit of IL&FS firm – The Hindu
Clipped from: https://www.thehindu.com/business/accounting-regulator-raps-ey-arms-audit-of-ilfs-firm/article36638737.ece ‘Understatement of losses runs up to more than ₹2,000 crore’ The National Financial Reporting Authority (NFRA) has rapped ‘EY group firm’ SRBC &
Lenders defeating the IBC’s spirit – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/lenders-defeating-the-ibcs-spirit/2335568/ Videocon bid and, now, U-turn show banks defanging IBC by letting buyers acquire stressed assets at basement bargains Indeed, the sale, at Rs
Streamline consent – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/streamline-consent/article36592553.ece?homepage=true Tighter timelines are welcome, but transparency is needed on the rationale for consent decisions It has been 15 years since the Securities Exchange
Foreign investors want Sebi to delay shorter trade settlement plan | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/foreign-investors-want-india-to-delay-shorter-trade-settlement-plan-121092200150_1.html Sebi’s plan could push foreign investors to upgrade their custodial arrangements, spend more on foreign exchange charges and other costs. Photo: Bloomberg India
Videocon insolvency: Lenders make U-turn, approach NCLAT for fresh bids | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/videocon-insolvency-lenders-make-u-turn-approach-nclat-for-fresh-bids-121092001057_1.html Billionaire Anil Agarwal’s Twin-Star Technologies had offered Rs 2,962 crore to takeover Videocon Industries, which was 4.15% of the admitted claims of Rs
Insider Trading Violations: The implications of Sebi’s recent rulings – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/insider-trading-violations-the-implications-of-sebis-recent-rulings/2331027/ The regulatory objective of the insider-trading law is outlawing the ‘abuse of UPSI’; Sebi therefore must not bar all trade by a person
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