24 February 2014
Sir, we have a company with name "TISH CONSULTANCS PRIVATE LIMITED" which is a NBFC company. It was incorporated in 1990 and got certificate from RESERVE BANK OF INDIA dated 20TH APRIL, 2002. Sir my question is that :- Is this company should follow the section 45-IA of RBI Act, 1934 relating to maintain a minimum Net Owned Fund of Rs. 200 lacs for carrying business of NBFC? Is it a defaulter Company if this is not complying this provision? What is the penal provision regarding this?
CAclubindia
