Nandukumar Kamat
06 March 2018 at 14:47
Dear Sir,
1.As per RBI, for a company to be classified as an NBFC, to decide on its principal business, it will have to satisfy the two tests of assets and income. The financial assets should be more than 50% of total assets) and the income from financial assets should be more than 50% of the gross total income. Both these need to be satisfied for a company to be regarded as an NBFC.
2.Our Company carrying Investment business (Only Purchase & Sells of Shares & Mutual Funds) without obtaining the certificate of registration from the RBI. Last 7 years the Company invests in only shares & Mutual Fund & Total Gross Income of company from only Financial Assets Only. Now our company received notice from RBI regarding the Registration of NBFC. In this notice they are given three option :
1) Apply for COR 2)Merge company with another NBFC 3)Wind up the Business of NBFI.
Our Company Paid up Shares Capital is 24 Lacs & reserve is 1.03 Crores.
Net Owned Fund calculation as per RBI Formula is Rs.17.07 Lacs.
Clarifications required:
We have a investment company whose main objects clause includes investments activities. If they invest more than 51% of total assets in Investments and their 51% of total income comes from dividend & Capital Gain income. The company is not accepting any public deposits and investments are made for long term purpose and not for trading- Will it be treated as an NBFC company? Since their Net Owned Funds (NOF) are less than 2 crores(17.07 Lacs as per Calculations). Can we continue the investment activity without taking RBI registration?
Please provide me a simple letter which has to be given to RBI in respect of Notice received from RBI for Registration of NBFC.
Please advise the same in above matters.
Thanks & Regards
N. K.
Jagdeep Singh
06 March 2018 at 08:42
my father borrowed loan from HDB...he passed away last month... when we ask from HDB about any insurance on name of my father they said they don't brought insurance instead they brought insurance for my brother... but when we ask from bank to give my brother's insurance policy they making excuses from month... we don't know about insurance but we are sure one of both have insurance ..
how we can get insurance from HDB with legal way.. like customer court , court or any other way
Raj
03 March 2018 at 17:12
Dear Sir,
In India a MNC manufacturing a product and export to buyer under buyback.
What are the procedure to follow under corporate law and Taxation.
kindly advise key points.
S.Raj
Anonymous
01 March 2018 at 21:33
I am from West Bengal. Please clarify the procedure to remove a trustee from a public trust. If anybody resign from the trust then how to execute it? Some lawyers tell that the best way to execute it is 'news paper declaration'. Is it right?.
Anonymous
01 March 2018 at 21:12
Sir, we are running four teachers training institutions under four different trusts and now want to amalgamate into a new trust. Please provide the procedure regarding the above mentioned subject step by step.
Neeraj Jha
01 March 2018 at 17:40
Dear experts,
I had been working in an American MNC for 6 years, and each year I got good increment and compliments on the performance but suddenly company told me to resign but I denied. Then company created pressure on me but still I denied to resign and told to fire me if company does not retain me. I was on company role and I had a valid PAN account and PF account.
But after 15 days they took my access card and given me full and final documents and told that you are fired.
but I got a information through a friend in HR, he said that company did not fire you on record but they fraudly steel my signature and created a forged resignation letter.
So like this company did cheat with me.
Now, no dues of PF amount is pending.
Can I do anything against this fraud????
Please help
Chetna
27 February 2018 at 12:42
Section 3(1)(b) of the Maharashtra Rent Control Act, 1999, which is hereinafter referred to for the sake of brevity as the Act, lays down :
"Section 3(1) -- This Act shall not apply --
(a).......
(b) to any premises let or sub-let to banks, or any Public Sector Undertakings or any Corporation established by or under any Central or State Act, or foreign missions, international agencies, multinational companies, and private limited companies and public limited companies having a paid up share capital of Rupees one crore or more.
THE QUESTION IS DOES THIS ALSO INCLUDE PARTNERSHIP FIRMS UNDER ANY CORPORATIONS ?
Dhiraj Mishra
26 February 2018 at 11:03
All partners (say A & B) of a partnership firm (AB & Co.) enter individually into another partnership firm with other individuals ( C & D ) { four partners A, B , C & D} to form a partnership firm (ABCD & Co.). They drop a tender in a PSU company on the name of firm ABCD & Co. but they submit work experience and Turnover of Firm AB & Co. . It is legal/right ? As partnership firm can not enter into another partnership firm. can their experience be legal in this case?
Anonymous
24 February 2018 at 15:00
i have come across a pvt ltd company with 6 persons as directors ,with 5-8 companies under their name individually.i even doubt that they have give false address as i know one of directors.how can i find irregularities in that company and prove the company is fraud.
© 2026 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
Help to revive strike off company (nclt mumbai)
Can anyone help to revive my company which was struck off for non filing of ROC returns ? if yes kindly contact me on my number +919766403909
Thanks in advance