Hi
can anybody provide me me the solution.
A Pvt Ltd company whose main object clause is not an investment , however the money received from the members as loan are invested in the trading activity of shares , commodities and currency.
will this company be classified as NBFC???
NBFC are companies registered under companies act who are primarily engaged in busines of loans and advances, investment in shares,bonds, debentures of Government or local bodies, hire purchase, leasing, chit fund business. However it does not includes companies who are primarily egaged in business of agriculture activity, industry activity, trading activities, providing services activities. Further such company are being governed by RBI. Hope this will help you to evaluate the status of your company.
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