non-deposit accepting Board resolution

[INDRANI SANKA]

Hi,

 

As per the RBI annual intimation a non-deposit accepting NBFC must pass a resolution in the Board meeting for non-acceptance of deposits for the current year.

 

could any one of you who work for an NBFC share the intimation letter sent by RBI?

 

Thanks,

Indrani

[Dipak singh]

Dear Indrani,


"Resolved that
a) it be noted that as on 31st march 2011 and as on date , the Company
has no outstanding public Deposits.
b) The Company has not accepted and shall not accept in future ( if
require) and in financial year 2010-2011 in particular any public
deposit without obtaining prior approval in writing of the Reserve
Bank Of India."


Regards,
Dipak Singh

[INDRANI SANKA]

Hi,

 

Can you send me the RBI letter requesting us to provide such a resolutuion.

 

Thanks,

Indrani

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[shailesh goyal]

Dear Indrani

Requirement of passing Board Resolution is not because of specific letter from RBI. It comes from the provision contained in the Guidelines on Non Banking Financial Companies and as per those provisions first Board resolution was required to be passed in the month of February of 1998, i suppose and then within 30 days of commencement of new financial year.

Thanks & Regards
Shailesh Goyal
Shailesh Goyal & Associates
30/1574, IIIrd Floor,
Naiwala, Karol Bagh
Delhi-110015
Mob. 9868744733

[sameer kumar]

Dear Sanika

I am attaching the resolution for not accepting the deposits.
i think it will hepl you. Make changes in the
resolution as per your requirement

Regards
sameer