Tag: NBFCs
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Can IBC be Invoked against a Financial Service Provider?
[Anirudh Agrawal is a fourth year student of Nalsar University of Law, Hyderabad] Recently, a two-member bench of the National Company Law Tribunal (NCLT) in Apeejay Trust v. Aviva Life Insurance Co. India Ltd instituted insolvency proceedings against one of the leading insurance companies of the country – Aviva Life Insurance. Given the exclusion of
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NBFCs and Other Financial Service Providers Now under IBC
[Ashwin Mathew and Bhushan Shah are with Mansukhlal Hiralal & Co, Mumbai] Under the Insolvency and Bankruptcy Code, 2016 (IBC), the corporate insolvency resolution process contained in Part II applies to corporate debtors. A corporate debtor is defined as a “corporate person who owes a debt to any person.” Corporate person is defined to exclude financial
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Regulatory Domain over M&A for NBFCs
The Reserve Bank of India (RBI) has issued a notification relating to mergers and acquisitions (M&A) involving non-banking finance companies (NBFCs). This now brings most M&As relating to NBFCs within the regulatory domain of the RBI thereby requiring its prior approval. The following types of transactions fall within the RBI approval requirement: 1. takeover or
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RBI Guidelines on Private Placement of Debentures by NBFCs – Part 2
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RBI Guidelines on Private Placement of Debentures by NBFCs – Part 1
Normal 0 false false false EN-US JA X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:Cambria; mso-ascii-font-family:Cambria; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Cambria; mso-hansi-theme-font:minor-latin;} [The following post is contributed by Nidhi Ladha and Vinita Nair of Vinod Kothari & Co. They
