National Financial Reporting Authority (NFRA):   As it seeks to enhance engagement with stakeholders, the National Financial Reporting Authority (NFRA) will set up a single stakeholders’ advisory group as well as a research cell to support the group. A large majority of the respondents have expressed the urgent need for a settlement mechanism rather than […]

T+1 Settlement System: If stock Markus exchanges agree to the proposal for the T+1 settlement system made by the Securities and Exchange Board of India (Sebi), investors will get money for shares they sold or bought in their accounts faster, and in a safer and risk-free environment. On September 7, Sebi allowed stock exchanges to […]

Insolvency And Bankruptcy Code (IBC): The Supreme Court has said “judicial delay” was the main reason for the failure of the insolvency regime in India prior to the 2016 Insolvency and Bankruptcy Code (IBC), as it urged company law tribunals to “strictly adhere” to the timelines under the new law and clear pending resolution plans. […]

Input Tax Credit (ITC): The Supreme Court has confirmed a Madras High Court judgment which upheld a fiscal formula included in the Central Goods and Service Tax Rules to execute refund of unutilised Input Tax Credit (ITC) accumulated on account of input services. The Madras HC had held last year that Section 54(3) of the […]