Government launches independent directors’ databank

NEW DELHI: In a significant move, the government on Monday launched a databank of independent directors which will be a “comprehensive repository” of existing as well as those eligible to be independent directors. Set up under the Companies Act, 2013, independent directors are required to register themselves with the databank within three months from December … Read more Government launches independent directors’ databank

Caught in the (Companies) Act? Don’t fret

NEW DELHI: India will soon take steps to make punishments under the Companies Act less harsh by ensuring that most violations are regarded as civil rather than criminal offences as the government looks to reassure investors and industry.A criminal offence can lead to imprisonment for executives in the event of a conviction. Decriminalisation of the … Read more Caught in the (Companies) Act? Don’t fret

Banks face higher provisions on resolution delays to big-ticket NCLT cases

NCLT, IBC

Four big-ticket National Company Law Tribunal (NCLT) cases — Essar Steel, Bhushan Power and Steel, Jaypee Infratech, and Alok Industries — will see their resolution getting pushed to the next financial year (2019-20), increasing the provisioning burden on lenders. It will also postpone the benefit of reversal of money set aside as provisions. These cases … Read more Banks face higher provisions on resolution delays to big-ticket NCLT cases

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