Author Archive for: vishesh
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– By Saloni Mathur (email@example.com) Introduction Just when the NBFCs were grappling with the outburst of RBI’s Ombudsman Scheme which was proposed to come into effect from 23rd February, 2018, FIU-IND released the list of ‘High risk NBFCs’ (‘List’) on account of non-compliance with the Prevention of Money Laundering Act, 2002 (‘PMLA Act’) and the […]
By CS Vinita Nair (firstname.lastname@example.org) Section 42 has been substituted by way of section 10 of Companies (Amendment) Act, 2017. Draft rules amending Rule 14 of Companies (Prospectus and Allotment of Securities) Rules, 2014 have been issued for public comments. Erstwhile section 42 dealt with ‘Offer or invitation for subscription of securities on private placement’. […]
By Saloni Mathur & Mayank Agarwal (email@example.com) Introduction In the wake of rising discrepancies and deficiencies witnessed in the implementation of NBFCs general services, the Reserve Bank of India(“RBI”) came up with The Ombudsman Scheme for Non-Banking Financial Companies, 2018 (hereinafter referred to as the “Scheme”) to address and target any complaint by any […]
By Mayank Agarwal (firstname.lastname@example.org) The Ministry of Finance (“MoF”) has introduced The Chit Funds (Amendment) Bill, 2018 (“Bill”) on 20th February, 2018, bringing in some noteworthy changes to the Chit Funds Act, 1982 (“Act”). The Rs. 500 billion Chit Fund industry has had its fair share of ups & downs in the country. While the sector […]