sir,
as per the rule 14 of pas regulation 2014 , the NBFC is excluded from the maximum limit of 200 as per 2 (b).and there is also a para. describing that
provided that such companies shall comply with sub clause (b) and (c) in case the reseve bank of india have not specified similiar regulations.
But Reserve bank have one notification one circular on June 27, 2013 .
In that they mentioned only :
1.Private placement by all NBFCs shall be restricted to not more than 49 investors, identified upfront by the NBFC.
2.The minimum subscripttion amount for a single investor shall be Rs. 25 lakh and in multiples of Rs.10 lakh thereafter.
RBI is silent about the maximum number 200..
so my question is wheather The maximum limit of 200 is applicable to NBFC or not?
CAclubindia
