modified and cl.....Tags : Prudential guidelines, stressed assets, modification
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Taxability of surplus on sale of shares and securities - Instructions in order to reduce litigation(29.02.2016)
The Central Board of Direct Taxes issued instructions in situations when Assessing Officers hold whether surplus generated from sale of listed shares .....
Tags : capital asset, shares, determination, litigation
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Disclosure of divergence in the asset classification and provisioning by banks(31.10.2019)
1. Under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI LODR Regulations') a listed entity shall dis.....
Tags : Disclosure, Divergence, Asset classification
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Karnataka HC Upholds Constitutional Legality of Proviso (v) to S.14(1) SARFAESI Act(14.04.2022)
Karnataka High Court has upheld the Constitutional legality of proviso (v) Section 14(1) of the Securitization and Reconstruction of Financial Assets .....
Tags : Karnataka High Court, Constitutional legality, Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
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CIC Stays Order on Disclosure of Information on Non-Performing Assets(08.07.2021)
Central Information Commission (CIC) has stayed the order of the First Appellate Authority (FAA) of the Reserve Bank of India (RBI) which had directed.....
Tags : Central Information Commission, Disclosure of Information on Non-Performing Assets
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SC Refuses to Entertain Plea Seeking Clarification on Declaration of Loan Accounts as NPA(09.07.2021)
Supreme Court has refused to entertain a plea seeking clarification and modification of its 23rd March 2021 judgement whereby it vacated the stay on d.....
Tags : Supreme Court, Declaration of Loan Accounts as Non-Performing Assets
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CCI Approves Reliance Capital-Goldman Sachs Deal(06.01.2016)
Competition Commission of India (CCI) has approved Reliance Capital Asset Management (RCAM) acquisition of Goldman Sachs' onshore asset management bu.....
Tags : Competition Commission of India, Reliance Capital Asset Management
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Supreme Court Seeks Action Plan on Recovery of Bad Loans(21.11.2016)
Supreme Court has said that disclosure of names of debtors, who owe Rs 500 crore or more to banks, will not lead "anywhere" as the important issue is .....
Tags : Supreme Court, Non-Performing Assets, disclosure, debtors
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SC: Outgoing Partner has Right to Seek Accounts & Shares in Profit Until Final Settlement Made(12.11.2024)
Supreme Court has held that if business is being carried on by a partner with the assets of the firm then, the outgoing partner will have a right to s.....
Tags : Supreme Court, Outgoing Partner, Assets
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Firm and Decisive Government Action taken to preserve value and assets of IL and FS(01.10.2018)
IL&FS, incorporated in 1987, is a large Systemically Important Non-Deposit Accepting Core Investment Company (CIC-ND-SI). It has numerous infrastructu.....
Tags : Assets, Preservation, Decisive Action
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Income Tax Department detects Foreign Assets in recent search(29.07.2019)
Income Tax Department conducted searches on 23rd July, 2019 in a group covering 13 premises across 3 States (Delhi, Haryana & Himachal Pradesh).
<.....
Tags : Search, Detection, Foreign Assets
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System-based asset classification - UCBs(12.08.2020)
1. Please refer to the Master Circular DCBR.BPD. (PCB) MC No.12/09.14.000/2015-16 dated July 1, 2015 containing consolidated instructions on income re.....
Tags : Asset classification, UCBs, Income Recognition
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When a public functionary is required to perform a public function within a time frame, the same will be held to be directory unless specified(05.11.2020)
The challenge in the present appeal is to an order passed by the High Court, whereby it was held that Section 14 of the Securitisation and Reconstruct.....
Tags : Secured Assets, Possession, Time limit
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Clarification pursuant to Circular dated September 11, 2020-Regarding Asset Allocation of Multi Cap Schemes of Mutual Funds(13.09.2020)
SEBI's 2017 circular on scheme categorization sought to achieve two objectives:
- True to Label schemes: The portfolio should reflect the na.....
Tags : Clarification, Asset Allocation, Multi Cap Schemes
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CBDT Notifies Exclusion of Non-Fungible Token as Virtual Digital Asset(04.07.2022)
Central Board of Direct Taxes (CBDT) has notified that the Non-fungible token (NFTs) shall not be treated as Virtual Digital Assets for the purpose of.....
Tags : CBDT, NFT, Virtual Digital Assets
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Supreme Court: Chief Judicial Magistrates Competent to Deal With Applications U/s 14 SARFAESI Act(24.09.2019)
In an important ruling, SC has held that a Chief Judicial Magistrate is equally competent to deal with the application moved by the secured creditor u.....
Tags : Supreme Court, Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, Chief Judicial Magistrate
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Ori. HC: In Maintenance Proceedings it is Mandatory to File Affidavit Disclosing Assets(14.02.2025)
Orissa High Court while directing fresh disposal of a maintenance case, has stated that it is mandatory to file affidavit disclosing assets while maki.....
Tags : Orissa High Court, Maintenance Proceedings, Disclosing Assets
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Hyderabad High Court Rejects Plea Seeking Declaration of Jayalalithaa's Assets as Public Properties(21.12.2016)
Hyderabad High Court has dismissed a plea filed by a city-based organisation seeking declaration of late J Jayalalithaa's assets located in Telangana .....
Tags : Hyderabad High Court, Jayalalithaa's assets
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Punjab and Haryana HC Refuses to Stay Langah's Conviction in DA Case(22.12.2016)
Punjab and Haryana High Court has refused to stay SAD senior leader Sucha Singh Langah's conviction in a disproportionate assets (DA) case.
Tags : Punjab and Haryana HC, Sucha Singh Langah, disproportionate assets
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Bom. HC: Writing Off Bad Debt Can’t be Considered as Asset u/s 153A(1) of IT Act(07.09.2023)
Bombay High Court has held that writing-off of a bad debt cannot fall within the ambit of “income, represented in the form of an asset” under Section .....
Tags : Bombay High Court, Bad Debt, Asset, Income-Tax Act
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Judges of Supreme Court Decide to Make their Asset Declaration Public(04.04.2025)
Supreme Court judges have agreed to make declaration of their assets publicly available as a step towards transparency and boosting public confidence .....
Tags : Supreme Court, Asset Declaration Public, Public Confidence
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Asset classification and income recognition following the expiry of Covid-19 regulatory package(07.04.2021)
The Hon'ble Supreme Court of India has pronounced its judgement in the matter of Small Scale Industrial Manufacturers Association vs UOI & Ors. and ot.....
Tags : Asset classification, Income recognition
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Cassette - swaps in ATMs(12.07.2021)
1.Please refer to circular RBI/2017-18/162/DCM (Plg.) No.3641/10.25.007/2017-18 dated April 12, 2018 on the captioned subject wherein banks were advis.....
Tags : Cassette, Swaps, ATMs
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Central Government notifies the transfer of capital asset from NTPC Limited to NTPC Green Energy Limited(15.06.2022)
In exercise of the powers conferred by clause (viiaf) of section 47 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies t.....
Tags : Notification, Transfer, Capital asset
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RBI Eases Stressed Asset Resolution Norms(11.11.2016)
Reserve Bank of India (RBI) has eased rules for various stressed asset resolution schemes and expanded scope of a loan recast plan previously limited .....
Tags : Reserve Bank of India , infrastructure sector, Stressed Asset Resolution
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Mad HC Takes Suo Moto Revision Against Minister Ponmudi’s Acquittal in Disproportionate Assets Case(10.08.2023)
Madras High Court has Suo Moto taken up revision against the Trial Court verdict that acquitted Tamil Nadu Higher Education Minister K Ponmudi and his.....
Tags : Madras High Court, Suo Moto, Disproportionate Assets
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Delhi HC Reserves Judgment over Virbhadra Singh in Disproportionate Assets Case(16.12.2016)
Delhi High Court has reserved its verdict on plea of Himachal Pradesh Chief Minister Virbhadra Singh and his wife Pratibha Singh, seeking quashing of .....
Tags : Delhi High Court, Virbhadra Singh, disproportionate assets
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SC: Time Limit Stipulation Mandating DM to Deliver Possession of Secured Asset Only Directory(06.11.2020)
Supreme Court has held that time limit stipulation in Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Secur.....
Tags : Supreme Court, Delivery of Possession of Secured Asset
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Delhi HC Issues Notice on Plea by Decree Holder Seeking Attachment of Assets of Judgment Debtor(25.08.2021)
Delhi High Court has issued notice on a plea by a decree holder (KLA Const. Technologies) seeking attachment of moveable and immovable assets of the j.....
Tags : Delhi High Court, Attachment of Assets of Judgment Debtor
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Delhi HC: Charges Can be Framed Only on Material, Not on Speculation(09.08.2022)
Delhi High Court while quashing a trial court order that had framed charges against a chartered accountant in a disproportionate assets case, has held.....
Tags : Delhi High Court, Charges, Disproportionate Assets Case
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Application to regularize assets held abroad to be sent to RBI(10.02.2016)
The Reserve Bank of India notified consideration of applications at its Central Office in Mumbai seeking regularisation of assets held abroad by a per.....
Tags : Rbi, foreign asset, black money, regularisation
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Disclosure requirement for Asset Management Companies(25.08.2022)
1. SEBI has amended the definition of "associate" as per clause (c) of sub-regulation (1) of regulation 2 of SEBI (Mutual Funds) Regulations, 1996 vid.....
Tags : Disclosure requirement, Asset Management
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NCLAT: IRP Has Authority to Take Possession of Assets Owned by Corporate Debtor(20.05.2025)
NCLAT New Delhi bench has held that Interim Resolution Professional (IRP) has the authority to take possession of assets owned by the Corporate Debtor.....
Tags : NCLAT New Delhi, Corporate Debtor, Possession of Assets
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Delhi HC: Larger Bench to Decide Whether Section 149(1)(c) of IT Act Applies Retrospectively(04.06.2025)
A larger bench of Delhi High Court is set to decide whether Section 149(1)(c) of the Income Tax Act, 1961 providing an extended period of reassessment.....
Tags : Delhi High Court, Section 149(1)(c), Foreign Assets
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Madras HC Directs TNSEC to Submit Assets Declarations of all Elected Councillors(01.12.2016)
Madras High Court has directed Tamil Nadu State Election Commission (TNSEC) to submit statements of declaration of assets made by all Elected Councill.....
Tags : Madras High Court, Tamil Nadu, Election Commission, Assets Declarations
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NCLAT Turns Down Reference Seeking Re-Consideration of Decision in V. Padamakumar Case(23.12.2020)
National Company Law Appellate Tribunal has turned down a reference made by a three-member Bench, seeking re-consideration of the decision in V. Padam.....
Tags : National Company Law Appellate Tribunal, V. Padamakumar v. Stressed Assets Stabilization Fund (SASF) & Anr.
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SC Publishes Assets and Liabilities of Judges on its Website(06.05.2025)
Supreme Court has published the list of assets and liabilities of the Judges on its website in order to show transparency and boosting public confiden.....
Tags : Supreme Court, Liabilities of Judges, Assets
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Bombay HC Gives Government ‘Last Chance’ to File Report in Kripashankar Assets Case(10.01.2017)
Bombay High Court gave Government a last chance to submit a report on its probe into alleged disproportionate assets of former Mumbai Congress chief K.....
Tags : Bombay High Court, Kripashankar Singh, Mumbai Congress, disproportionate assets
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Scheme for Sustainable Structuring of Stressed Assets(13.06.2016)
The Reserve Bank of India formulated a scheme for resolution of large stressed accounts. The Scheme for Sustainable Structuring of Stressed Assets, or.....
Tags : rbi, stressed asset, resolution, sustainable, scheme
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Enhancing Credit Supply for Large Borrowers through Market Mechanism(12.05.2016)
The Reserve Bank of India released a paper on Framework for enhancing .....Tags : rbi, large borrower, risk, asset
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Disclosure in the "Notes to Accounts" to the Financial Statements - Divergence in the asset classification and provisioning(01.04.2019)
Please refer to our circular DBR.BP.BC.No.63/21.04.018/2016-17 dated April 18, 2017, on the captioned subject, requiring disclosures by banks where di.....
Tags : Disclosure, Financial Statements, Asset classification
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Approval of plan for transfer of assets by Air India Limited to AI Assets Holding Limited(25.01.2022)
The Central Government hereby approves the following as plan approved by the Central Government for transfer of assets by Air India Limited to AI Asse.....
Tags : Approval, Transfer, Assets
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Relaxations for Listed Companies having stressed assets(23.06.2020)
SEBI has decided to relax the pricing methodology for preferential issues by listed companies having stressed assets and exempt allottees of preferent.....
Tags : Relaxations, Listed Companies, Stressed assets
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Committee on Asset Reconstruction Companies invites views and suggestions from stakeholders(28.04.2021)
As part of the Statement on Developmental and Regulatory Policies released along with the Monetary Policy Statement on April 7, 2021, the Reserve Bank.....
Tags : Committee, Asset Reconstruction Companies, Stakeholders
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Maintenance of CRR/SLR on Foreign Currency Assets/Liabilities- Reference rate for INR/USD and exchange rate of other major currencies(02.08.2018)
Please refer to our circular DBOD.No.Ret.BC.113/12.01.001/2011-12 dated June 29, 2012 on Maintenance of CRR on FCNR(B) Scheme advising banks to be gui.....
Tags : Maintenance, CRR/SLR, Foreign Currency Assets, Liabilities
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Kerala HC Stays Trial against ADGP Ajithkumar in Disproportionate Assets Case(27.08.2025)
Kerala HC has stayed proceedings against ADGP M.R. Ajithkumar in a disproportionate assets case, noting procedural illegality in the Special Judge’s o.....
Tags : Kerala HC, Disproportionate Assets, Vigilance, Prevention of Corruption Act
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