Determination of rule applicability: Central Government decides if rules apply to a company after consultation with the central bank. Power to determine applicability of the Companies (Acceptance of Deposits) Rules rests with the Central Government, which shall decide whether the Rules apply to a particular company in consultation with the Reserve Bank of India, creating an administrative interagency consultation mechanism for resolving questions of statutory applicability.
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Provisions expressly mentioned in the judgment/order text.
Determination of rule applicability: Central Government decides if rules apply to a company after consultation with the central bank.
Power to determine applicability of the Companies (Acceptance of Deposits) Rules rests with the Central Government, which shall decide whether the Rules apply to a particular company in consultation with the Reserve Bank of India, creating an administrative interagency consultation mechanism for resolving questions of statutory applicability.
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