Power over group companies: Bank may require information and conduct inspections or audits of related entities. A new provision grants the Bank authority to require a non-banking financial company to annex or furnish information about any group company and to cause ... Summary
Power over group companies: Bank may require information and conduct inspections or audits of related entities.
A new provision grants the Bank authority to require a non-banking financial company to annex or furnish information about any group company and to cause inspection or audit of any group company and its books notwithstanding the Companies Act, 2013; it defines "group company" by specified relationships and adopts notified Accounting Standards for those relationships.
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