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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.

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. (AI Summary)
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DR.MARIAPPAN GOVINDARAJAN on Jan 16, 2016

In my opinion it has to take approval as NBFC.

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