Investors may soon have the option to exit a company if its promoters use the money raised from public issue for any other purpose other than the stated objective in the prospectus.
Foreign banks are finding it tough to comply with the new US Tax Law, which aims at curbing offshore tax evasions by Americans (mostly in tax heavens such as Panama, China & Russia). Under this law, banks have to disclose data on American acc holders with more than $50,000 balance.
YES Bank has raised $255 million loans from overseas and plans to swap it with the RBI to take advantage of the subsidised rate offered by governor R.Rajan, in a move to attract dollar.
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