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COVID-19 and its legal impact on companies: What India Inc needs to look out for?
“Considering the supply chain disruption caused by the COVID-19 outbreak, it is likely that performances under many contracts will be delayed, interrupted, or even cancelled,” the report says. Suppliers to contracts may seek to delay and/or avoid performance (or liability for non-performance) of their contractual obligations and/or terminate contracts, either because COVID-19 has legitimately prevented them from discharging their contractual obligations, or because they are seeking to use it as an excuse to get out of an unfavorable deal. Read More
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SEBI asks market entities to stay cautious about funds linked to Islamic State.
SEBI has asked stock brokers, depositories and market entities to stay cautious about any funds or entities linked to the infamous Islamic State and Jamaah Ansharut Daulah. The regulator has informed market entities about the updated Al-Qaida sanctions list of the United Nations Security Council, which has named Islamic State in Iraq and the relevant parts of Libya and Yemen and Jamaah Ansharut Daulah. In a circular, Sebi has asked stock brokers, depositories and other market intermediaries to ensure strict compliance with the prevention of unlawful activities law. Read More
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Glass partitions: achieving women’s workplace potential needs a rethink of corporate governance.
Taking a deeper look at the 21st century workplace, we must ask if we are enabling women’s true potential as collaborators, innovators and leaders. Even as glass ceilings are cracking for white women, the evidence says companies are still maintaining unmistakable glass partitions at work, actively preventing women from achieving their potential - individually and for their organisation. Recent data reveal that these barriers are rooted in the way today’s organisations are governed, and, more widespread than we thought. Read More
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An overview of Mergers And Acquisitions Trend In 2019 And Outlook For 2020.
Unlike last year, we witnessed a downward trend in the M&A transactions during the year 2019 both in volume and deal numbers, however, M&A activities saw a spur due to sale of distressed assets under IBC. IBC although in its nascent stage has already garnered a lot of investor attention to be classified as an M&A category in itself, exclusively involving distressed assets. This is also evident from the India M&A Report 2019 published by Bain & Company wherein they account that 70% of the of growth in M&A activity in 2018 was led by distressed deals, enabled through the IBC. Read More
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Explained: How Yes Bank ran into crisis.
On March 5, the Reserve Bank of India announced that it was superseding the Yes Bank Board of Directors for a period of 30 days “owing to serious deterioration in the financial position of the Bank”. But what created panic among the general public, and in particular the deposit holders in Yes Bank, was the RBI’s decision to cap withdrawals at Rs 50,000. The RBI said it had “no alternative but to” place the Bank under moratorium “in the absence of a credible revival plan, and in public interest and the interest of the bank’s depositors…” Read More
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Explained: Insolvency and Bankruptcy Code (Amendment) Bill, 2020.
Aimed at easing the insolvency resolution process, the Bill was introduced in the house by Finance Minister Nirmala Sitharaman on December 12, last year. After having been scrutinized by the standing committee, whose report was received on March 4, the Bill was passed by the Lok Sabha last friday, on March 6 and by the Rajya Sabha on March 12. This is the 4th time that the IBC Code is proposed to be amended. Read More
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Rating Agency Crisil assigns GVC-1 rating to Bharti Airtel.
Crisil assigned 'Crisil GVC Level-1’ rating to Bharti Airtel Limited. The rating indicates that the telecom operator's capability with respect to corporate governance, and value creation for all its stakeholders, is the 'Highest'. Crisil had assigned this rating to the telecom operator in 2017 but it was withdrawn in May 2019. The current rating follows a strong demonstration of a strong and diversified board and good corporate governance practices. Read More
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New and Innovative Measures to Improve Working in the Ministry of Corporate Affairs.
The Ministry of Corporate Affairs (MCA) has taken several initiatives to achieve the vision of being a facilitator of world class governance of corporates and Mission of easing compliance, balancing interest of stakeholders and achieving excellence in service delivery. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today. Read More
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CSR: Toyota Kirloskar Motor employees efforts to create a better tomorrow for the Differently Abled
Continuing its relentless efforts tomotivate and encourage employees to partake in social causes, Toyota Kirloskar Motor, conducted its ICARE activities in Bangalore, spreading the message of love and equality for all human beings. This time around, TKM associated with NGO – ‘Sandesh’ that works for the differently abled. More than 100 ICARE Champions (TKM employees) came together to build an inventory of products to raise funds for the NGO, benefitting the differently abled children associated with Sandesh. Read More
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