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.
kabeer99
06 March 2018 at 14:40
I would like to ask, whether an HR-Head of a Limited Company can terminate a Manager with immediate effect, without issuing any kind of written Notice under the verbal allegation of Non-Performance. On the other hand he emphasized to the Manager to submit a Resignation immediately, without which did not allowed to go out of his cabin.
Not Only that, the Notice Pay is paid incomplete, Only two months Notice Pay given, whereas three Months Notice Pay and 30 days Notice is already mentioned in the Company Policy issued to the employee at the time of joining.
What will be the Option for the Manager, as he has already Resigned under Pressure and Threaten.
Anonymous
06 March 2018 at 14:31
Claimant son met a road accident in the night hours when he was on a motorcycle and hit at the back of a Tractor and Trailor which was moving in the same direction without using tail lights.
Claimants son died on spot.
Claimant filed a MAC Case before the Tribunal.
The O.P. the insurance company of the tractor and trailer took the defense that the said vehicle was insured under 'Farmers Policy' and their third party liability against the said claim is limited to Rs. 25000 only which is very negligible.
The Hon'ble Tribunal has put the matter in the Lok Adalat. The insurance company needs some judgement of the Higher Courts regarding payment of claims under 'Farmers Package Policy' to settle the matter.
Please help.
Anonymous
06 March 2018 at 14:05
If a Man has a very small manhood of about 3.5 inches or less when fully erect, can wife get divorce on that ground? He is filing false allegations to hide his own shortcoming.
Anonymous
06 March 2018 at 13:25
मैं एक गुंतवणूक दार हू जो मालिक से घर मकान हेवी डिपॉसीट पे लेके भाडे पे देता हू और यह सब बनते मकान मालिक को पहिले से बता देता हू. तो मैं कोनसा अग्रीमेंट बनालू कुपया मदत किजिये
Anonymous
06 March 2018 at 12:43
XYZ BUSNINESS MAN HAI. XYZ KE DEATH HUI HAI.AFTER DEATH BUSNINESS IS COLSE. THAN BOOK OF ACCOUNT MAY JO CREDITORS HAI USE NIL KARNE KI JIMIDARI KISKE HAI . AFTER DEATH INSURANCE CLAIM MILA HAI NOMINEE KE NAAM SAY TO JO BHI MARKET KA DENA HAI WO KISE DENA HAI -
Law Querier
06 March 2018 at 10:42
Marriage is solemnized and registered in india according to the Hindu marriage act. Earlier the petitioner got ex-parte divorce order from foreign country which is not accepted by respondent because it is not according to Hindu marriage act and Indian law. Then, again petitioner has filed divorce petition under Hindu Marriage act in cruelty ground in India.
Que: Can a party file divorce petition in India again, when earlier he/she got divorce order from foreign country?
Anonymous
06 March 2018 at 10:16
Dear Sir,
Can the beneficiaries of a will ALSO sign the will, IN ADDITION TO the signatures of two witnesses, as a proof of the beneficiaries knowing the contents of the will ?
This may help to avoid future disputes between beneficiaries as they may not be able to question the contents of the will in future.
If a testator cannot sign due to physical disability / illness, can he / she affix thumb impression ? Does this require any attestation by extra witness or notory or registrar ?
Thanks
Anonymous
06 March 2018 at 09:57
My sister-in-law comitted a suicide in sept 2017.and their family put a case against my brother(husband), me and my mother.myself and my mother got AB bail from high court mumbai and session court,nashik resp.brother got bail after 2 months.chargesheet is made in nov 2017. case is not moved to session court still.my brother and sister in law married in nov 2013.she is very aggressive and has depressed due to 2 time miscarrage due to her mistake.my brother gives lots of facility and love but she is very traditional and superstitious.his mother and grandmother pressurize her for baby.my brother gives him paithani store and sbi life insurance agent also.myself workign in BOM from june 2013 and from june 2013 to today i m wokring i have rarely visit home to meet my mother.my mother is pensioner of Rs 23000/-.my self got 45000/- and my brother is loun counelor got 40000/-.they lodge compliant againmst me that i bit her ,my mother talk vulger and my brother also bit and also ask for dowry .they dont have single evidence bcoz all are false.i have all evidences like my appoint order.muster copies and training letter, flat possesion order and all.my brother also have all evidences like paithani store reg,lic agent appoint letter, flat possesion letter,all photographes.my mother also have pensioner passbook update,prpoerty documents and all.all medical history and miscarrage and all medical bills and all of my sister in law .please guide me i am in big trouble.i am in very prosepctus bank.please guide as early as possible.
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