Reg : Sec 269 SS

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Gayathri Devi (Querist)
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25 October 2008 Whether sec 269 SS applicable to NBFC company

reply me its urgeny

if possible reply to my mailid geniusgayathri@gmail.com

Bharath Kumar

Bharath Kumar (Expert)
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25 October 2008 269SS. Provision do not apply to
(a) Government ;
(b) any banking company, post office savings bank or co-operative bank ;
(c) any corporation established by a Central, State or Provincial Act ;
(d) any Government company84 as defined in section 617 of the Companies Act, 1956 (1 of 1956) ;
(e) such other institution, association or body or class of institutions, associations or bodies which the Central Government may, for reasons to be recorded in writing, notify85 in this behalf in the Official Gazette :

(i) banking company means a company to which the Banking Regulation Act, 1949 (10 of 1949), applies and includes any bank or banking institution referred to in section 51 of that Act ;

(ii) co-operative bank shall have the meaning assigned to it in Part V of the Banking Regulation Act, 1949 (10 of 1949) ;

Hope this clarifies