nbfc compliances
The appointment of a director who is a resident or citizen of China to a company's board of directors typically involves several steps and considerations, depending on the jurisdiction and the specific company's requirements including DIN Clearance from MHA.
As per the Companies (Appointment and Qualification of Directors) Rules, 2014, individuals who are citizens of the aforementioned neighboring countries require approval from the Ministry of Home Affairs (MHA) before they can obtain a DIN and become directors in Indian companies.
china citizen resident director appointment
Does the login has to be created for foreign national??
Recent Amendment in Companies ( appointment and qualifications) Rules by ministry of corporate affairs.How to get security clearance by MHA ?
As per , Notification dated 01st June 2022
I have submitted a security clearance application on behalf of an individual through the portal.
However, the status still indicates that the application is 'submitted.' Is there a specific time limit for approval, and if not, where can I raise a complaint or seek assistance in this matter?
Is there an authority or physical location where I can visit with the required documents to expedite the approval process?
I the director is of Taiwanese origion, will it be mandatory for getting security clearance
Please confirm after filing of an Application how to track approval on https://esahajmcaservices.nic.in/
How to verify for Directors Disqualification under Sec 164(2), vacation under Sec 167
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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.