Supreme Court: The 3-judge bench of SA Bobde, CJ and AS Bopanna* and V. Ramasubramanian, JJ has held that  under the Prevention of Money ­Laundering Act, 2002, though the Directorate of Enforcement is vested with sufficient power to freeze the accounts; such power is circumscribed by a procedure laid down under the statute. “It certainly is not the requirement that the communication addressed to the Bank itself should contain all the details. But what is necessary is […]

Introduction to NBFC Registration Process Are you looking to establish a Non-Banking Financial Company (NBFC)? If so, it’s crucial to understand the registration process and associated costs. This article will provide you with a step-by-step guide to successfully registering your NBFC and highlight the expenses involved. By following these guidelines, you can ensure compliance with regulatory requirements and smoothly navigate through the registration process. Understanding NBFCs An NBFC is a company engaged in various financial […]

Package Includes Annual compliance tracker Development of Fair code practice in business Review of Annual balance sheet Annual return filling Liaising with RBI Annual compliance report to Board of directors Legal Analysis RBI compliances are getting tougher for NBFCs as compared to before. There were times when Non-Banking Financial Companies had privileges over banks. In comparison to banks, compliance laid down by RBI for NBFCs were far more lenient but after the Sahara case, RBI […]