NBFC Regulation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 March 2011 Dear all,
A Pvt ltd. co. "____ financial pvt. Ltd." namely (Incorporated on March 1995) has received a notice from RBI on March 2011 states that " from the previous years balance sheets company's activities seems to be like the NBFC activities. hence stop the bussiness & justify for... previous as company is not registred under sec. 45(1A) as NBFC.
Plz suggest what justification can be given for NBFC activities without reg. u/s 45IA

Rasesh

Rasesh (Expert)
Follow

23 March 2011 NBFC registration is mandated if the company carries out activities which imply that the nature of the business carried out by the company is investment in nature.

The options available with the company are:
1) To discontinue such activities
or
2) To register with RBI as an NBFC and comply with all the applicable guidelines.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Michael & Co.

CA K GIRIDHAR

Samruddhi Agrawal

MURALIKRISHNA EDDANAPUDI

Namita Fule

Subscribe Now

NBFC Regulation

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

GST CONSULTANT

Accountant

GST CONSULTANCY

Manager- Finance and Compliance

CA Final