CA Sanjay Sahu (PROFESSIONAL) (57 Points)
22 February 2014Can a NBFC in the categaory of loan company can also be eligible for providing financial services, like management consultancy, financial consultancy...
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 22 February 2014
Section 45-I(f) of RBI Act defines NBFC as under:
| "non-banking financial company" means— |
| (i) | a financial institution which is a company ; | |
|
(ii) |
a non-banking institution which is a company and which has as its principal business the receiving of deposits, under any scheme or arrangement or in any other manner, or lending in any manner; | |
| (iii) |
such other non-banking institution or class of such institutions, as the Bank may, with the previous approval of the Central Government and by notification in the Official Gazette, specify.
Hence, so long as your principal business continues to be lending/ accepting deposits and consultancy is included in the Object Clause of your Memorandum, there should be no issue.
|
CA Sanjay Sahu
(PROFESSIONAL)
(57 Points)
Replied 26 February 2014
thanx a lot sir
my another doubt is that if principal business of the compnay is to given/accepting loan & advance then in such case, is company also eligible for carrying housing finance/asset finance/micro finance etc.
Kumar
(Finance Professional)
(32 Points)
Replied 19 August 2014
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Thank you..
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