nbfc compliances
An Indian Pvt Ltd co. engaged in certain services classified under export of services under GST.
The company received advance worth 2cr from an overseas customer in March 2020 in USD in their bank account as advance against the travel-based services to be provided. From March 2020 the international travel ceased so, the company has not provided any services for last two years to the said client.
The issue : How will the above advance be treated under section 73 and Deposit rules.
-Whether it falls under Public Deposit/Loan
-Whereas it's simply a business advance against services to be provided in future but outstanding for more than 365 days.
-What options the company has to not the same be treated as deposit/loan.
Please give resolutions
under services export classified certain Procedure to be followed for shifting of registered office within the same Special Economic Zone area. it will be within state compliances or what ?
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Required drafts formats for First Board Meeting Agenda, Notes of Agenda and Minutes Format.
Please share as per SS-1 & SS-2 Applicability
Company will be considered as Public company since where a company being a private company alters its articles in such a manner that they no longer include the restrictions and limitations which are required to be included in the articles of a private company under this Act, the company shall, as from the date of such alteration, cease to be a private company.
Name Change will be effective from the date of COI or EGM ?
Company incorporated in 2019, company does not file INC-20A within 6 months of incorporation and failed to commence its business. MCA Strike Off the company , but my question is directors will be considered as disqualified ?
Presently directors DIN is active and they want to incorporate a new Company , so is it possible ? Please give light on my query
filing struck case disqualification directors
share procedure for Conversion of Nidhi company to Private Limited
CHG-8 Filed through new MCA portal and the status of the same is got Approved - Pending for payment and the cost is reflecting Zero on the portal but haven't received a copy of the order yet for the approved form.
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Some of the relevant sections of the Companies Act, 2013, applicable to NBFCs are:
Section 186: This section specifies the restrictions on the company's ability to make investments, loans, and guarantees. NBFCs are also subject to this section.
Section 185: This section imposes restrictions on a company in respect of giving loans to directors or persons connected with them. However, certain exemptions have been provided to NBFCs.
Section 73 and Section 76: These sections specify the rules and regulations regarding acceptance of deposits by a company. NBFCs, being companies that accept deposits from the public, are also subject to these sections. However, the RBI has issued separate guidelines for acceptance of deposits by NBFCs.
Section 372A: This section deals with the requirement of a special resolution for the sale, lease, or disposal of a substantial part of the assets of the company. NBFCs are also subject to this section.
Please note that there may be exemptions or modifications to the above sections for NBFCs, as provided by the RBI or any other regulatory authority. It is recommended to refer to the latest guidelines and regulations issued by the relevant regulatory authorities while dealing with NBFCs.