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 governing or substantial role to play.
Views of other experts solicited.
Regards
In this case RBI has no governing or substantial role to play.
Views of other experts solicited.
Regards
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