Resolution framework for COVID-19 loan stress to be reviewed with banks and NBFCs to enable viability-based revival.
Review of the resolution framework for COVID-19-related stress in bank loans will bring together Scheduled Commercial Banks and NBFCs to finalise bank policies, identify eligible borrowers based on viability, and address procedural or implementation issues to enable timely and coordinated adoption of revival measures.

Proxy advisor grievance mechanism extension gives listed companies recourse to securities regulator for resolving disputes over voting recommendations.
Sebi extended the effective date for its procedural guidelines on proxy advisors, preserving requirements that advisors formulate, disclose and annually review voting recommendation policies, disclose when recommendations will not be provided, and enabling listed entities to approach the regulator to resolve grievances and for Sebi to examine potential non compliance with the code of conduct and procedural guidelines.

Cross-border asset recovery enabled repatriation of liquidation proceeds and supports disgorgement actions against alleged corporate fraudsters.
The Ministry of Corporate Affairs coordinated cross-border litigation in US Chapter 11 proceedings to secure repatriation of liquidation proceeds for unsecured creditors, obtained authorization to examine key individuals by subpoena, and initiated disgorgement proceedings against entities promoted or controlled by the alleged perpetrators; further distributions are subject to expenses and competing claims.

Minimum public shareholding norms relaxed for firms after insolvency to permit staged restoration and enhanced disclosure on relisting.
Relaxation of minimum public shareholding norms is proposed for companies relisting after corporate insolvency resolution, with calibrated staged compliance pathways reflecting lower initial public float at relisting and progressive increases to standard levels, consideration of lock-in release to achieve compliance, and enhanced disclosure requirements covering pre/post net worth, shareholding on full conversion, funds infused, creditor settlement, investor liabilities, and identities and experience of new promoters and key managerial personnel.

Audit appointment illegality found; statutory audit failed Standards of Auditing, prompting regulatory review and possible disciplinary action.
NFRA concluded in its Audit Quality Review Report that the appointment of BSR & Associates LLP as statutory auditor of IL&FS Financial Services Limited was ab initio illegal and void, and identified significant non compliance with the Standards of Auditing resulting in material misstatements, deficient going concern assessment, lack of communication with Those Charged With Governance, inappropriate materiality determination, and systemic IT process deficiencies; NFRA will consider initiation of disciplinary proceedings under the Companies Act.

Capital expenditure monitoring urged to accelerate public enterprise spending and ensure timely, effective use of allocated funds.
The Finance Minister held a video review with secretaries and CMDs of seven CPSEs to assess FY 2020 21 capital expenditure, address COVID related impediments, and direct closer monitoring and planning by ministries. Participants were instructed to prioritise timely utilisation of allocated funds and to take measures to achieve 50% of capital outlay by the end of Q2, with enhanced coordination and oversight to accelerate project execution and support economic recovery.

Business Responsibility and Sustainability Report strengthens non financial disclosures; phased implementation and MCA portal integration follow
The Committee recommends the Business Responsibility and Sustainability Report (BRSR) with two disclosure formats-a comprehensive format and a lite version-to capture ESG parameters, advocates gradual phased implementation coordinated with securities market regulators, integration of BRSR filings with the MCA portal, capacity building by professional bodies and envisages use of BRSR data to develop a Business Responsibility Sustainability Index.

Infrastructure project transparency now centralised on an online dashboard to boost visibility, investor engagement and implementation monitoring.
The Online Dashboard consolidates the NIP project database on the India Investment Grid to centralise project-level information, enable search, tracking and direct communication with promoters, and act as a monitoring and evaluation tool for ministries and the Department of Economic Affairs to compare implementation progress against initial estimates. Departments and ministries are directed to update project statuses in real time and show concrete progress on projects and reforms to attract domestic and foreign investment and support financing and oversight of infrastructure delivery.