S.O. 2641(E) dated 05-08-2016 NBFC

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MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 5th August, 2016

S.O. 2641(E).— In exercise of the powers conferred under sub-clause (iv) of clause (m) of sub-section (1) of section 2 read with section 31A of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), the Central Government hereby specifies the following non-banking financial companies, which are covered under clause (f) of section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934) and registered with Reserve Bank of India, having asset of five hundred crore rupees and above as per their last audited balance sheet, as “financial institutions” and hereby directs in public interest that all provisions of the said Act, shall apply to such financial institutions with the exception that the provisions of sections 13 to 19 shall apply only to such security interest which is obtained for securing repayment of secured debt with principal amount of rupees one crore and above, namely:─

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