Deposit solicitation restrictions now target housing finance companies and shift the supervisory reference to the central bank. The amendment to section 35 replaces 'housing finance institution' with 'housing finance institution which is a company', restricting the provision to corporate housing finance entities, and substitutes the existing institutional reference in clause (b) with the central banking authority, altering the named supervisory reference in the prohibition on solicitation of deposits by unauthorized persons.
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.
Deposit solicitation restrictions now target housing finance companies and shift the supervisory reference to the central bank.
The amendment to section 35 replaces "housing finance institution" with "housing finance institution which is a company", restricting the provision to corporate housing finance entities, and substitutes the existing institutional reference in clause (b) with the central banking authority, altering the named supervisory reference in the prohibition on solicitation of deposits by unauthorized persons.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
