Housing finance

Private Sector Companies: State or not State?

Summary: This blog examines when private sector companies and Government companies can be regarded as ‘State’ under Article 12 of the Constitution of India, and the legal jurisprudence surrounding this subject. The authors address key questions about when such entities will be considered as ‘State’ and hence amendable to Writ Jurisdiction for the enforcement of fundamental rights guaranteed under the Constitution. The blog analyses the evolution from structural to functional approach in judicial interpretation, including various SC judgments and the law laid down in the landmark case of P. K Biswas vs IICBContinue Reading Private Sector Companies: State or not State?

Housing Finance Companies - Proposed changes by RBI

The Central Government had, with effect from August 09, 2019, transferred regulatory powers of the Housing Finance Companies (“HFCs”) from the National Housing Bank (“NHB”) to the Reserve Bank of India (“RBI”). It is further stated that the RBI will review the extant of regulatory framework applicable to HFCs and issue the same in due course.  Until such time, HFCs were required to comply with the directions and instructions issued by NHB.[1]

Pursuant to the above and in order to increase the efficiency of HFCs, the RBI has now placed a draft of the changes proposed in the regulations applicable to HFCs for public comments till July 15, 2020, which we have briefly summarised below:
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