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Nbfc compliance
Does a "private limited company" whose income from dividend is more than 50% of its total income and investment in shares more than 50% of its total investment in a financial year required to be registered as a NBFC?
What will be the procedure and will there be any penalty levied for not registering as a NBFC and investing in shares of associate company and some listed companies?
Replies (2)
Certain Core Investment Companies have been exempteds by RBI from registration requirement. Refer master circular dated 1.7.2015 issued by RBI in this regard.
Sir,
The company is not a core investment company. Its primary business is trading in export licenses. But it's business is on halt from few years. In the meantime, the company has invested its fund in shares and has received dividend income from these shares.
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