The Hindu Business Line : RBI fiat to NBFCs

THE RBI has directed non-banking finance companies to take its prior approval before approaching the Registrar of Companies (RoC) to extend the date of its balance sheet as per the provisions of the Companies Act. Even in cases where the RBI and the RoC grant extension of time, the company would be required to furnish to RBI a proforma balance sheet (unaudited) as on March 31 of the year and the statutory returns due on the same date.

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