Nbfc - resolutions required

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”

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”