There are different types of Non Banking Financial Companies (NBFCs) licensed by RBI. NBFCs are classified (a) by the type of liabilities into Deposit and Non-Deposit accepting NBFCs
UNDERSTANDING THE BACKDROP OF AMNESTY SCHEME FOR DISQUALIFIED DIRECTORS: After demonetization a huge number of companies were struck-off in 2017. This was a move to regulate this sector. Some of the companies were fraudulent, others lacked compliance and transparency. The newly implemented Companies Act,2013 roped in all private companies & this resulted in a major […]
IPO Funding is a short-term loan that banks and other financial institutions provide to the investors to fund their Initial Public Offer (IPO) application.
MODI AND POLL PROMISES: The Manifesto of BJP in 2014 general election was aimed to give direction to the all-round progress of the country. Modi’s excellent oratory skills was successful in sending a clear message to the people that they shall vote for change for salvation of the country. The slogan ‘Achche din aayenge’ created […]
A Non-Banking Financial Company (NBFC) is a company which is registered under the Companies Act, 1956 /2013. An NBFC is engaged in the business of loans and advances, investment share, assets financing, debenture or other marketable securities, leasing, hire-purchase and insurance business. NBFCs provide working capital loan and credit facilities to invest in properties. – […]
Defining ‘STRIKE-OFF’: Strike-off means removal of a registered company, by the Registrar of Companies, from the register or roll. Defining ‘Non-Compliance’: Non-compliance means not complying/obeying the set of rules and laws prescribed under the Companies Act. Defining ‘Disqualification’ of Directors: The ‘Disqualification’ of Director means his Director Identification Number(DIN) is deactivated by the Authority. Reasons […]
BSE Launches New Platform for Startups Keeping in mind a specific end goal to promote new businesses, Bombay Stock Exchange (BSE) plans to soar a new platform for listing of startups in the tech segment of Information Technology Enabled Services(ITES), Information Technology(IT), biotechnology and life sciences, 3D printing, space technology and e-commerce. According to a […]
Mass Strike-Off: Political Agenda & Public Pressure? What Happened: In 2017, the Ministry of Corporate Affairs (MCA) announced the deregistration of 2.4 lakh companies and 3.09 lakh Directors under the provisions of the Companies Act, 2013. This came as a huge shock and the Industry was left gasping; never ever in the history of Independent […]
On 26 May 2016, the Reserve Bank of India (RBI) came out with a notification on Non-Banking Financial Companies (NBFCs) which paved the way for making amendments in their corporate debt....
Circumstances that Led to Strike-off: 1#: Political Agenda – Modi soon after occupying the office gave a clear message to the authorities is to take steps towards taming the ‘Demon’ of corruption, which was a poll promise of the PM. 2#: Financial Factors – The shadow economy was seen as an insurmountable hurdle in the way to economic progress. […]