Articles and Updates

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A study and critical analysis of provisions relating to fraud under the new Companies Act, 2013

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Noting that the lack of depth and liquidity in India’s corporate bond market is leading to “significant dependence on bank financing”, the Second Quarter Review of Monetary Policy 2013-14 by the Reserve Bank of India (RBI) proposed the issuance of guidelines to allow banks to offer partial credit enhancements (PCEs) to corpo - rate bonds by way of credit facilities and liquidity facilities

• Sawant Singh -

On 23 June, the Reserve Bank of India (RBI) released timelines within which its approval could be expected for matters such as licences for private banks, the issuance of licences to non-banking financial companies and external commercial borrowings not covered under the automatic route. In parallel, the RBI also placed a “Citizens’ Charter” on its website, providing timelines within which various departments would be able to provide services for matters

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The Indian government,while entering into BITs, needs to strike the right balance between safeguarding its own interest and reassuring foreign investors that they have adequate safeguards and protection under the said BITs.

• Sawant Singh -

On 1 July 2013, the Reserve Bank of India (RBI) disclosed that it had received 26 applications from private sector entities for licences to establish new banks. The applicants included prominent financial and industrial concerns such as Edelweiss, L&T Finance, Reliance Capital, Videocon Group and Tata Sons, although Tata Sons and the Videocon Group later withdrew their applications. After an initial screening of applications by the RBI,the applications were further scrutinized by the High Level Advisory Committe