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.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
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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