Sebi notifies rules on uniform standards for nomination facilities across securities markets, ET LegalWorld
Markets regulator Sebi has notified rules on nomination allowing nominees to act on behalf of incapacitated investors. Additionally, it notified the rule mandating every participant to provide beneficial owners with the option to nominate a person to whom their securities will transfer upon their death. “Every participant shall provide an option to the beneficial owner […]
SC directs Centre to establish mandatory accessibility standards for disabled persons, ET LegalWorld
The Supreme Court on Friday directed the Centre to implement mandatory accessibility standards within three months, in a significant order aimed at improving access to public spaces for persons with disabilities. The order by a three-judge bench headed by Chief Justice D Y Chandrachud comes in response to slow progress on the accessibility directives issued […]
NCLT rejects JC Flowers’ claim against HDIL, says collateral alone doesn’t meet IBC standards, ET LegalWorld
The National Company Law Tribunal (NCLT) dismissed a liability claim by JC Flowers ARC Pvt Ltd against Housing Development & Infrastructure Ltd. (HDIL), ruling that the debt did not qualify as a “financial debt” under the Insolvency and Bankruptcy Code (IBC) as it was not due or payable at the time of HDIL’s corporate insolvency […]
ICAI takes matters into its own hands with new quality management standards, ET LegalWorld
The Institute of Chartered Accountants of India (ICAI) has released a new Standard of Quality Management (SQM) for chartered accountants and audit firms. This move comes despite legal requirements that these standards be notified by the government based on recommendations from the National Financial Reporting Authority (NFRA), ToI reported. NFRA, which oversees auditors and firms […]