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Delhi
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PREACH LAW LLP
Kolkata Office at
Chamber No.215, High Court Of Kolkata West Bangal -: 700001
PREACH LAW LLP
Opposite Road No.3, GTI Area,
Sikar Road, Jaipur, Rajasthan - 302013
PREACH LAW LLP
Office at: 805-B, Sector-K,
Ashiana, Lucknow, Uttar Pradesh, India,
PREACH LAW LLP
Office at: Chamber no.-145,
Shaheed Sukhdev Singh Block,
Near Gate No-1,District Court, Gurugram.
PREACH LAW LLP
(Advocates & Attorney)
Reg. Office:E-111-B, Nawada Housing Complex,
Uttam Nagar, New Delhi-110059
PREACH LAW LLP
Antop Hill Ware Housing Co. Limited,
Unit No. C-339, V.I.T. College Road,
Wadala (East), Mumbai - 400 037
PREACH LAW LLP
Allahabad Office at
138-A/1,Ram Priya Road,
Prayag Allahabad, Uttar Pradesh
  • Delhi
    PREACH LAW LLP
    Delhi Office at
    Plot No.B-34, Second Floor, Arjun Park, South West Delhi, New Delhi – 110043, India
  • Gurugram
    PREACH LAW LLP
    Gurugram Office at
    Chamber no.-145, Shaheed Sukhdev Singh Block, Near Gate No-1,District Court, Gurugram.
  • Mumbai
    PREACH LAW LLP
    Mumbai Office at
    Unit No. C-339, V.I.T. College Road,
    Wadala (East), Mumbai - 400 037.
  • Lucknow
    PREACH LAW LLP
    Lucknow Office at
    805-B, Sector-K, Ashiana, Lucknow, Uttar Pradesh, India,
  • Jaipur
    PREACH LAW LLP
    Jaipur Office at
    Opposite Road No.3, GTI Area, Sikar Road, Jaipur, Rajasthan - 302013
  • Kolkata
    PREACH LAW LLP
    Kolkata Office at
    Chamber No.215, High Court Of Kolkata West Bangal -: 700001
  • Allahabad
    PREACH LAW LLP
    Allahabad Office at
    138-A/1,Ram Priya Road, Prayag Allahabad, Uttar Pradesh

Annual Filling and Compliance

Annual compliance of NBFC Company:

Legal Scrutiny of NBFC Annual Compliance?

At present, RBI compliances are getting tougher for NBFCs as compared to earlier. There were times when Non-Banking Financial Companies had privileges over banks. In comparison to banks, compliance laid down by RBI for NBFCs were far more lenient but after the SAHARA case, RBI has made new compliances for NBFCs and now it is under RBI’s continuous screening. Some of the important guidelines are Securitization of Standard Assets and Guidelines for Private Placement of NBFCs.

RBI is keeping making efforts for preventing speculation in NBFCs

RBI releases notifications for the additional compliance requirement for NBFCs.

Submission of Annual Statements and Returns

NBFC-ND-SI (Non-Deposit category) are required to submit an annual statement of capital funds, risk assets ratio etc. It can be submitted electronically as well as physically.

Capital Adequacy of 15% to be maintained.

Disclosures in the Balances Sheet

Further Capital Adequacy, Liquidity, and other disclosure norms have been incorporated in Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007.

CRAR

● Exposure to Realty Sector both direct and indirect

● Maturity Patterns for assets and liabilities

● ALM Returns are required to be submitted by NBFC- ND-SI

● ALM1- Statement of short-term dynamic liquidity- Monthly

● ALM2- Statement of short-term structural liquidity- Half Yearly

● ALM3- Statement of Interest Rate Sensitivity – Half Yearly

Checklist for NBFC Non-Deposit Compliances With RBI

A.Annual Compliance

SERIAL NO. PARTICULARS TIME LIMIT
1 ● Unaudited March Monthly return/NBS7 ● on or before 30th June
2 ● Audited March Monthly return/NBS7 ● Upon completion
3 ● Statutory Auditors certificate on Income & Assets ● on or before 30th June
4 ● Information about Cos having FDI/Foreign Funds ● on or before 30th June
5 ● Resolution of Non-acceptance of Public Deposit ● before the commencement of the new Financial year
6 ● File Audited Annual Balance Sheet and P&L Account ● One month from the date of signoff
7 ● Declaration of Auditors to Act as Auditors of the Company ● annual basis

B. Monthly compliance

SERIAL NO. PARTICULARS TIME LIMIT
1 ● Monthly Return ● by 7th of every month

C. Periodical compliances

SERIAL NO. PARTICULARS TIME LIMIT
1 ● Appointment of Director ● within 30 days of appointment
1 ● Resignation of Director(DIR-12 + Challan Receipt) ● within 30 days of resignation
1 ● Adoption of any notification in the ensuing Board Meeting & filing the certified copy with RBI ● within 30 days of appointment

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