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Nbfc - resolutions required

Riddhi Thakkar (Manager - Legal and Secretarial) (121 Points)

15 April 2013

Request you to assist me in getting the resolution given below:

1) Certified true copy of Board Resolution relating to adoption of KYC norms as per circular no. DNBS.(PD)CC 68/03.10.42/2005-06 dated April 5, 2006.

2) Appointment of Principal Officer under PMLA in terms of circular no. DNBS. (PD)CC. No. 48/10.42/2004-05 dated February 21, 2005.

3) Confirmation of having put in place appropriate systems on the excessive interest rate in terms of DNBS.(PD)CC. No. 95/03.05.002/2006-07 dated May 24, 2007.

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Sneha (Company Secretary) (1594 Points)
Replied 17 April 2013

APPOINTMENT OF PRINCIPAL OFFICER OF THE COMPANY

The Chairman informed the Board that as per the RBI guidelines, it is necessary to appoint a senior management officer of the Company as the principal officer of the Company for the purpose of monitoring and reporting of all transactions and sharing of information as required under the law. After some discussions, it was:-

“RESOLVED that Mr. __________, Director of the Company, be and is hereby appointed as the Principal Officer of the Company for the purpose of monitoring and reporting of all transactions and sharing of information as required under the law”

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Sneha (Company Secretary) (1594 Points)
Replied 17 April 2013

INTRODUCTION OF KYC NORMS AS PER THE RBI GUIDELINES

The Chairman informed the Board that as per the Circular No. DNBS(PD). CC 48/10.42./2004-05 dated 21^st February, 2005 issued by the Reserve Bank of India, all NBFCs are required to introduce and put in place the KYC norms and to take all such measures as are necessary to comply with the KYC-PMLA guidelines. The Board after discussion passed the following resolution:-

“Resolved that the company do hereby introduce and put in place the KYC Norms as per the guidelines of RBI with immediate effect.

Resolved further that the company do hereby take all such measures as are necessary to comply with the KYC-PMLA Guidelines.

Resolved further that Mr. _________, Director of the Company, be and is hereby authorized to take necessary steps in this regard and make necessary communication with RBI”

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