It started off as a move to check proliferation of shell companies and keep a tab on unscrupulous elements in the board who misuse the system. The Ministry of Corporate Affairs announced a fresh KYC process in July for verifying credentials of Director Identification Number (DIN) holders.
Sumit Naib, Associate Director shares his views on aforementioned story for Business Standard.
Recently, National Company Law Appellate Tribunal (NCLAT) order upholding the plea by the Ministry of Corporate Affairs to freeze personal assets of independent directors associated with companies that are being investigated for their involvement in the Punjab National Bank scam.
Sumit Naib, Nangia Advisors LLP shares his views on aforementioned story for Business Standard.
Corporate insolvency resolution process (CIRP) in India will get a boost with SEBI now amending its ‘Takeover Code’ to remove capital infusion hurdles in companies with approved resolution plans under the Insolvency and Bankruptcy Code (IBC). The latest change will enable acquirers of shares under approved resolution plan to go beyond the maximum permissible non-public shareholding, that is, 75 per cent.
Sumit Naib shares his views on SEBI moves to ease corporate insolvency resolution process for Hindu Business Line- Front page/First story.