Section 29(1) in The National Housing Bank Act, 1987
(1)Notwithstanding anything contained in this Chapter or in any other law for the time being in force, no housing finance institution which is a company shall commence or carry on the business of a housing finance institution without-(a)obtaining a certificate of registration issued under this Chapter; and(b)having the net owned fund of twenty-five lakh rupees or such other higher amount, as the National Housing Bank may, by notification, specify.
