State with reasons whether the following Companies require registration as NBFC with Reserve Bank of India, if not who is regulating authority for these Companies: Asset Finance Company
CS Executive · Setting up of Business Entities and Closure · PYQS · June 2021
State with reasons whether the following Companies require registration as NBFC with Reserve Bank of India, if not who is regulating authority for these Companies: Asset Finance Company
Answer & Explanation:
(ii) Asset Finance Company: An Asset Finance Company is a company which is a financial institution carrying on as its principal business of the financing of physical assets such as automobiles, tractors, lathe machines, generator sets, earth moving and material handling equipment's, moving on own power and general purpose industrial machines. Hence, such Company requires registration as NBFC with Reserve Bank of India.
Topics: Financial Services
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