Articles and Updates

• Sawant Singh - 07-05-2018

The Reserve Bank of India (RBI) offers an array of mechanisms for dealing with stressed assets. At last count, these included corporate debt restructuring, strategic debt restructuring, the scheme for sustainable structuring of stressed assets, and joint lenders forums with corrective action plans. Added to this are the various classifications of “special mention accounts” (SMAs) and the various stages of non-performing assets. The absence of a statute-driven insolvency apparatus justified the need for these mechanisms, but the enactment of the Insolvency and Bankruptcy Code (IBC) rendered their utility moot. Indeed, these mechanisms were unintendedly in conflict with the IBC.

• Phoenix Legal - 10-04-2018

In the recent past, the rich Indian brigade has caught the public eye on account of what the Indian Government refers to as the 'loot and scoot' crimes. From cricket event organizers, liquor barons to diamond merchandisers all have been accused of multi crore scams and the tendency of suddenly leaving the shores of India.

• Phoenix Legal - 15-03-2018

Introduction of e-way bill system is a step under GST regime with an aim to ensure self-sustaining tax administration with increased reliance on self-reporting. A few states such as West Bengal, were already having their own e-way bill systems in place before introduction of Good and Services Tax (GST). However, GST has first time enabled uniform application of e-way bill system across India with a futuristic outlook, enabling the tax payers to report the movement of goods electronically, thus reducing the hold ups at check posts etc.

• Sudipto Dey - 19-02-2018

While the scam highlights the need for an overhaul of the oversight mechanism of banks and of their internal controls, questions are being raised on why multiple audits failed to raise an alarm

• Maulik Vyas - 31-01-2018

As a teenager, Sawant Singh found it hard to resist the glitz and glam surrounding the make-believe world of Bollywood, seeking to crave the spotlight. But, as he hit the 20s, the actor in him wanted to play the real life hero, cracking complex and challenging deals, which others could be wary of.