NBFC

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29 November 2010 what is NBFC?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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30 November 2010 A non-banking financial company (NBFC) is a company registered under the Companies Act, 1956 and is engaged in the business of loans and advances, acquisition of shares/stock/bonds/debentures/securities issued by government or local authority or other securities of like marketable nature, leasing, hire-purchase, insurance business, chit business, but does not include any institution whose principal business is that of agriculture activity, industrial activity, sale/purchase/construction of immovable property.

A non-banking institution which is a company and which has its principal business of receiving deposits under any scheme or arrangement or any other manner, or lending in any manner is also a non-banking financial company (residuary non-banking company).

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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30 November 2010 For detail information please check file from below link---

https://www.caclubindia.com/share_files/faq-on-nbfc-27906.asp

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