Registration requirement for housing finance companies now subjects them to Reserve Bank registration and transferred applications. Housing finance companies must obtain Reserve Bank registration and satisfy a prescribed net owned fund threshold before conducting housing finance as their principal business; pending applications with the National Housing Bank transfer to the Reserve Bank and prior valid registrations are deemed effective. The Reserve Bank replaces the National Housing Bank for registration functions and may require the National Housing Bank to inspect books and report. Definitions of subsidiaries and group companies are aligned with the Companies Act, 2013.
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Provisions expressly mentioned in the judgment/order text.
Registration requirement for housing finance companies now subjects them to Reserve Bank registration and transferred applications.
Housing finance companies must obtain Reserve Bank registration and satisfy a prescribed net owned fund threshold before conducting housing finance as their principal business; pending applications with the National Housing Bank transfer to the Reserve Bank and prior valid registrations are deemed effective. The Reserve Bank replaces the National Housing Bank for registration functions and may require the National Housing Bank to inspect books and report. Definitions of subsidiaries and group companies are aligned with the Companies Act, 2013.
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