Monday, 26 August 2013

NBFC's scheme of Arrangement as per Companies Act can't be considered if it's not in conformity with

CL: Chapter IIIB of RBI Act has been given an overriding effect over all other laws including Companies Act by incorporating section 45Q with a clear intention to ensure that in a case of NBFC, a scheme under section 391 of Companies Act cannot be entertained unless it is in conformity with provisions of section 45QA of RBI Act


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