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Is section 372a applicable to nbfc also

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(Querist)
30 June 2012 kindly tell me is section 372A applicable to NBFC??
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CS Mitesh Mehta

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CS Mitesh Mehta (Expert)
30 June 2012 A company whose principal business is the acquisition of shares, stock, debentures or other securities OR Financing
Industrial or other Companies can be considered as NBFC/ Investment company. Before availing exemption under Section 372A, it is advisable to check compliance with NBFC relevant laws/rules/regulation/RBI directions.
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