certificate of registration granted under this section; and (b) [ having net owned fund of not less than two crore rupees or such other higher amount
Reserve Bank of India Act, 1934
45IA. Requirement of registration and net owned fund.—
(1) Notwith-standing anything contained in this Chapter ... certificate of registration issued under this Chapter; and (b) having the net owned fund of twenty-five lakh rupees or such other amount, not exceeding
clause (9) of section 2, shall be registered unless he has net owned funds of not less than rupees five thousand crore
shall not at any time exceed ten times the net-owned funds of the company or the co-operative society, as the case ... Explanation.— For the purposes of this sub-section, “net-owned funds” shall mean the aggregate of the paid-up capital and free reserves as disclosed
Requirement of registration and net owned fund. (1) Notwithstanding anything contained in this Chapter or in any other law for the time being in force ... certificate of registration issued under this Chapter; and (b) having the net owned fund of twenty-five lakh rupees or such other higher amount
said relief is available to the nidhi companies, which have positive net owned funds in the ratio of 1 : 20 and as certified by their ... Comp Cas (St.) 2.].
(ii) The net owned fund of the nidhi company is positive as on March 31, 1996.
(iii) The nidhi company
business as a Non Banking Financial Institution without having
the Net Owned Fund (hereinafter referred to as "NOF") of Rs.
100 Lakhs ... which
read as follows:
"45-IA. Requirement of registration and net owned
fund.
(1) Notwithstanding anything contained in this
Chapter or in any other
after
21.04.1999 are compulsorily required to
attain a minimum Net Owned Fund(NOF) of Rs. 2
crore instead of 25 lakhs. Thereafter it was
Page ... Banking Financial Companies are
mandatorily required to attain a minimum Net
Owned Fund of Rs. 2 crore by end of March
paper book/page 6) . The learned counsel submitted that net
owned funds of the assessee company of Rs. 58.36 crores ... company has utilized net owned funds for the purposes of making
investments in shares and mutual fund , as the net owned funds
which are
as under:
(i). The accused No. 1 had NOF (Net Owned Fund) of Rs.
11.33 lacs as on 31.03.1997 and the company ... Direction, 1997. It was found, that the accused no. 1 had
Net Owned Fund of Rs. 11.33 lacs as on 31.03.1997. The
accused
