Nbfc with rbi, loan companies, nbfc rules, nbfc stocks, nbfc meaning

NBFC MAIN OBJECTIVES WWW.WEBSOFETX.COM

MAIN OBJECTIVES to hold on the business of a holding and investment trust, and to buy, underwrite and to speculate in and acquire and hold shares, stocks, debentures, debenture stock, bonds, obligation or securities of firms or partnership companies.

MAIN OBJECTIVES To acquire any such shares , stocks, debenture, debenture stock, bonds, obligation or securities by original subscription, exchange or otherwise and to subscribe for constant either not absolutely or otherwise, to ensure the subscription therefrom issued or secured by any government, state, public body, or authority, firm, body company or the other entity or persons

MAIN OBJECTIVES To purchase or acquire, hold, trade and any to eliminate any right, stake or interest within the shares, stocks, debentures, debenture stock, bonds, obligation or securities of corporations or partnership companies either on an individual basis or put together with the other person(s), body company or partnership firm completing or proposing to hold out any activity in India or in the other a part of the globe.

MAIN OBJECTIVES • To invest and deal with the moneys of the Company not immediately required in such manner as may from time to time be determined and to hold or otherwise deal with any investment made.

FRAUD PROVISION •The Companies Act 2013 is heavily loaded with provisions coping with fraud. •It over three hundred references to fraud, and introduces section 447 that fixes a minimum imprisonment of six months, going up to 10 years, and a financial fine of a minimum of the number concerned in fraud, going up to

FRAUD PROVISION •The Act is laden with anti-fraud measures. •The intense Frauds Investigation workplace, virtually equivalent of a company CBI, is provided with powers to arrest while not warrant, and therefore the offence is nonbailable.

FRAUD PROVISION The auditor of the corporate has obligatorily to report frauds to the MCA if he has “reasons to believe that a fraud exists in relevancy the company”.

Having been defined as a ”financial institution”, enjoying parity with banks, NBFCs may, therefore, make a case, under appropriate circumstances, that the borrowers made deliberately false or misleading statement to induce the NBFC to lend or grant a credit facility.

FRAUD PROVISION Therefore, the borrower, or officers of the borrower, should be liable to charged with fraud. The prospect of fraud reporting, or fraud prosecution, will be strong enough deterrent for a borrower to listen to an NBFC very seriously.