Tag: Securitisation
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Bridging the Gap: SEBI’s Draft Circular on SDI Trustee Disclosures
[Atharva Singh and Arushi Devendra Jha are 4th year B.A. LL.B. (Hons.) students at National Law Institute University, Bhopal] On 16 June 2025, the Securities and Exchange Board of India (“SEBI”) released a Consultation Paper on the Draft Circular proposing a bi-annual mandatory disclosure framework for trustees of Special Purpose Distinct Entities (“SPDIs”) issuing Securitised Debt Instruments (“SDIs”). To provide
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Call for Papers: 3rd Edition of Wadia Ghandy Awards for Structured Finance Research
[Announcement on behalf of Vinod Kothari Consultants] We are inviting researchers, law students, and legal scholars to make their contribution to structured finance research and submit their papers for consideration on the list of attached topics. Selected Topics (further details in the link below) Further details of the selected topics, guidelines for participants, and important
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ARCs and Insolvency Resolution Plans: The Enigma of Equity vs Debt
[Sikha Bansal is a Partner at Vinod Kothari & Company] A regulatory framework for asset reconstruction companies (ARCs) was introduced in India through the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). This intended to put in place a system for clearing up non-performing assets (NPAs) from the
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Draft Framework for Securitisation of Standard Assets: Re-modelling the Indian Securities Market
[Adesh Sharma and Saksham Shrivastav are 3rd year B.A. LL.B. (Hons.) students at National University of Study and Research in Law, Ranchi] In an attempt to regulate the securities market in a more sophisticated direction and open up newer avenues, the Reserve Bank of India (‘RBI’) on June 8,2020 introduced the ‘Draft Framework for Securitisation
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Insolvency of Financial Service Providers and Third Party Rights Under Securitisation Contracts
[Richa Saraf is an Advocate] The Insolvency and Bankruptcy Code, 2016 (“Code”) does not, in general, deal with insolvency of financial service providers (“FSPs”), as FSPs are seen to be systemic and complex structures engaging in unique transactions. However, the collapse of Dewan Housing Finance Corporation Limited (“DHFL”) led to the notification of the Insolvency
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Applicability of SARFAESI to Assignment of Loan by an NBFC
[Siddharth Tandon is a BB.A. LL.B student at National Law University, Jodhpur] The primary objective of enacting the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (or the SARFAESI Act) was to empower the financial institutions by identifying and remedying the problem of non-performing assets (NPA) by providing efficient solutions
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Securitization and Direct Assignment Transactions in the Indian Economy
[Vineet Ojha is Manager – IFRS & Valuation Services at Vinod Kothari Consultants Pvt Ltd] The current financial year has witnessed a sharp surge and a life time high in the volume of securitization and direct assignment transactions in the Indian economy. Consequent to the funding problems that non-banking finance companies (NBFC) and housing finance companies
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Creation and Operation of Tenancy Rights over Secured Assets under SARFAESI
[Samarth Saxena is a final year student at ILS Law College, Pune] The advent of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interests Act, 2002 (“SARFAESI”) ushered in a new era of reforms for the Indian banking regime. These reforms were primarily aimed at facilitating the speedy recovery of defaulting loans and
