Tag Archives: financial

Homebuyers are Financial Creditors under Insolvency Code: SC

The Supreme Court of India recently upheld the amendments made to the Insolvency and Bankruptcy Code in 2018 (“Code”) to treat homebuyers as financial creditors. The Court said that the original provisions concerning Financial Creditors under the Code always subsumed … Continue reading

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NBFCs regulations revised: RBI

The Reserve Bank of India has revised regulations for non-banking finance companies (NBFCs). http://goo.gl/nd1bGf

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Proviso to Sec 113 IT Act retrospective in nature: SC

In a very important ruling regarding levy of surcharge on block assessment of income, the Supreme Court of India ruled that the proviso to Section 113 of the Income Tax Act imposing surcharge shall not have a retrospective affect. “…….. … Continue reading

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RBI restores ODI to 400% net worth of Indian entities

Financial Commitment (FC) by Indian Party under Overseas Direct Investments (ODI) – Restoration of Limit Attention of the Authorised Dealer (AD – Category I) banks is invited to the provisions of the Notification No. FEMA.120/RB-2004 dated July 7, 2004 [Foreign … Continue reading

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RBI directed to examine the reasonableness of rate of interest charged by lenders: DHC

In what may be an important ruling affecting borrowers of loans from Non-Banking Financial Companies (NBFC), the Delhi High Court directed Reserve Bank of India (RBI) to examine whether the rate of interest being charged and foreclosure charges, if any, … Continue reading

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