12 July 2011
A Company is carrying on the Trading in Shares as its main business. As per the Provisions of RBI Act Sec. 45IA, it needs to be registered as an NBFC with the RBI. Can there be some exceptions to this?? It has also invested Appx. 50% of its paid up capital in to group companies but that has been kept as Investments and not as the stock – in – trade.
21 November 2012
How come trading in shares mandates registeration as NBFC with RBI. We had a client whose main business was trading in shares and they were not registered as NBFC. Big 4 were the auditors and they also dint raise the query
CAclubindia
