Toni Das (CS) (89 Points)
17 November 2015Dear Learned Members,
A NBFC is engaged in financing and leasing of Medical Equipment and Health Care Assets. It also provides loans to small Private Limited Companies. Hence, would like to know whether Section 186 of the Companies Act is applicable to such NBFC.
Thanking you in advance
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 17 November 2015
For exemption refer Section 186(11). NBFC can claim exemption if the case is covered u/s 186(11). However, care needs to be taken for compliance of Sec.185 if applicable.
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