Leasing Business

[RAVI SONI]

An Overseas Company has a wholly owned Indian Subsidiary Private Limited Company. In this regard I want to know whether the existing Indian Company can start leasing business in India or else it has to take approval as a NBFC Company.

Any other suggestion in this regard is welcome.

[DR.MARIAPPAN GOVINDARAJAN]

In my opinion it has to take approval as NBFC.

AI Summary

NBFC approval required for an Indian subsidiary to commence leasing business, thus regulatory authorization is necessary.
The advisory states that a wholly owned Indian private subsidiary seeking to undertake leasing activities must obtain NBFC approval before commencing such operations, as leasing falls within regulated financial activities requiring formal licensing.