TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Ministry Clarifies: Section 8 Companies Can't Alter Objects for Microfinance Due to RBI Fund Requirements.</h1> The Ministry of Corporate Affairs has issued a clarification regarding Section 8 companies under the Companies Act, 2013, which are attempting to alter their object clauses to include microfinance activities. Despite initial restrictions, these companies are passing special resolutions and filing e-form MGT-14 to change their activities. The Ministry emphasizes that incorporation of microfinance companies under Section 8 is not feasible due to non-compliance with the Reserve Bank of India's criteria for net owned funds. Registrars of Companies are instructed to prevent such alterations unless compliance with RBI's requirements is ensured. Compliance with these directives is mandatory for all officers.
TaxTMI 
TaxTMI 
