Corporate laws
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 September 2010
Please let me know whether Reserve Bank of India has any provisions applicable for the deposits accepted u/s 58A of the Companies Act. i.e. a non banking non financial company or industrial company engaged in manufacturing activity.
07 September 2010
As per my understanding in case of public deposits a NBNFC is fully governed by section 58A and 58AA read with Deposit Rules, 1975. In this case RBI has no role to play.
Views of other experts solicited.
Regards
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Regards
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