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The Non-Banking Financial Services Sector | Half-Yearly Newsletter

Submitted by indigoadmin on Mon, 01/27/2020 - 15:23

The Indian financial services sector (particularly the non-banking financial services sector) has been in the front-page news since October 2018. Last year, as the world marked the 10th anniversary of the global financial crisis triggered by the collapse of Lehman Brothers, ironically, the default on payments by certain large NBFCs (such as IL&FS), sparked panic across the sector.

New Beneficial Ownership Rules – Transactional Implications

Submitted by indigoadmin on Mon, 01/27/2020 - 15:15

Following through on India's commitment to align its regulatory framework with the recommendations of the Financial Action Task Force, to check the misuse of multi-layered corporate entities for money laundering and other illegal activities, the Ministry of Corporate Affairs (MCA), vide the Companies (Amendment) Act, 2017 (Amendment Act), amended the Companies Act, 2013 (Act) with an intent to strengthen beneficial ownership disclosures.

Dematerialisation Of Securities For Unlisted Companies – Recent Changes In Indian Law

Submitted by indigoadmin on Mon, 01/27/2020 - 14:09

Under Indian law, shares of an unlisted company could hitherto either be held in physical form (i.e., represented by letters of allotment / share certificates issued against such shares) or in dematerialised form (i.e., by opening an account with a depository participant, "Demat Account").