that the said RBI Act never intended to compute taxable
income of NBFC for income tax purposes; and, hence, there was no
inconsistency between ... asset in the books of the lender, i.e., NBFC under the
head "Debtors/Loans and Advances". According to the Department
fulfilling
certain conditions. Secondly, the circular of 1984 is with regard
to NBFC's, whereas the assessee is a cooperative bank.
Further, even ... which is engrained in
the prudential norms for recognition of revenue by NBFC.
7.1 Mr. Shah further submitted that it would, therefore,
be the real
incorporated as a Non-Banking Finance Company
(hereinafter referred to as a “NBFC”) under the Companies Act in 1983,
and was engaged inter alia ... Thus, it violated the provisions of
Para 12 of the NBFC Prudential Norms (Reserve Bank)
Directions, 1998 (hereinafter referred to as the Prudential
Norms Directions
more
than six months. The assessee is a Non-Banking Financial Company
(NBFC) and, therefore, is bound by the directions given by the
Reserve Bank ... India. These directions, inter alia, mandate a NBFC
to declare such advances as Non Performing Assets (NPA) when the
accrued interest therein is not paid
that the appellant was carrying on business of non-banking financial company (NBFC, for short) as defined under Section 45-I(f) of Chapter ... under the provisions of Section 45-IA(2) of the Act as NBFC. The RBI in order to satisfy itself whether the appellant fulfillls
filed by the Chief Executive
Officer of one NBFC by name Bajaj Finance Limited, seeking a
transfer of the quash petition pending on the file ... corporation which is not a bank and which is
otherwise known as NBFC, is not listed as one of the entities
excluded from the definition
noticed.
4. The petitioner is a Non-Banking Finance Company (NBFC) under the control of Reserve Bank of India (RBI). The business of the petitioner ... Companies Act, 1956 to order repayment of the deposit when NBFC fails to repay any deposit. In the case of any default committed by NBFC
Working Group on the Issues and Concerns in the NBFC
Sector' (Usha Thorat Committee), was formed to study the issues and
concerns ... NBFC sector. The terms of reference of the Committee
included review of:
(i). Entry point norms
(ii). Concept of 'principal business' for registration
before this Court is a 'Non-
Banking Finance Company' ('NBFC' for brevity). That the sole respondent is a
http://www.judis ... NBFC has been set out in the claim petition which has been placed before this
Court as part of case file.
5. NBFC
WPTT NO.6 of
2011 is non-banking finance company ("NBFC"). The
petitioners grant loans to persons intending to purchase
vehicles against hypothecation ... definition if the vehicle was caused to be sold by the
petitioner NBFC in exercise of the hypothecatee's
contractual right to sell pledged
