26 July 2009
A company has not obtained RBI approval before commencement of NBFC business. Company is mainly trading in share for past 6 moths. Can it apply now and regularise non compliance?
27 July 2009
NO.As per the NBFC regulation it is necessary for the Company to obtain the license first and thereafter commence trading. However, you may approch the relevant authority in RBI and try to obtain the license.
CAclubindia
