Chapter IIIB - PROVISIONS RELATING TO NON-BANKING INSTITUTIONS RECEIVING DEPOSITS AND FINANCIAL INSTITUTIONS

Question 1

Section 45H

Answer 1

Chapter IIIB not to apply in certain cases

Question 2

Section 45I

Answer 2

Definitions

Question 3

Section 45IA

Answer 3

Requirement of registration and net owned fund

Question 4

Section 45IB

Answer 4

Maintenance of percentage of assets

Question 5

Section 45IC

Answer 5

Reserve fund

Question 6

Section 45ID

Answer 6

Power of Bank to remove directors from office

Question 7

Section 45IE

Answer 7

Supersession of Board of directors of non-banking financial company (other than Government Company)

Question 8

Section 45J

Answer 8

Bank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money

Question 9

Section 45JA

Answer 9

Power of Bank to determine policy and issue directions

Question 10

Section 45K

Answer 10

Power of Bank to collect information from non-banking institutions as to deposits and to give directions

Question 11

Section 45L

Answer 11

Power of Bank to call for information from financial institutions and to give directions

Question 12

Section 45M

Answer 12

Duty of non-banking institutions to furnish statements, etc, required by Bank

Question 13

Section 45MA

Answer 13

Powers and duties of auditors

Question 14

Section 45MAA

Answer 14

Powers to take action against auditors

Question 15

Section 45MB

Answer 15

Power of Bank to prohibit acceptance of deposit and alienation of assets

Question 16

Section 45MBA

Answer 16

Resolution of non-banking financial company

Question 17

Section 45MC

Answer 17

Power of Bank to file winding up petition

Question 18

Section 45N

Answer 18

Inspection

Question 19

Section 45NA

Answer 19

Deposits not to be solicited by unauthorized person

Question 20

Section 45NAA

Answer 20

Power in respect of group companies

Question 21

Section 45NB

Answer 21

Disclosure of information

Question 22

Section 45NC

Answer 22

Power of Bank to exempt

Question 23

Section 45Q

Answer 23

Chapter IIIB to override other laws

Question 24

Section 45QA

Answer 24

Power of Company Law Board to offer repayment of deposit

Question 25

Section 45QB

Answer 25

Nomination by depositors