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nbfc director

satbir singhwahi

Registration of new NBFC was rejected by RBI. Now one of the director of rejected NBFC wants to join existing registered NBFC , can he join registered NBFC.

Director from NBFC denied RBI registration seeks to join registered NBFC; opinions differ on disqualification conditions. A director from a non-banking financial company (NBFC) that was denied registration by the Reserve Bank of India (RBI) seeks to join an existing registered NBFC. One response indicates that if the rejection was due to the director's disqualification, he cannot join the registered NBFC. Another response agrees that he can join, provided he meets any conditions related to disqualification. (AI Summary)
Banking - Finance
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YAGAY andSUN on Jul 10, 2021

If rejection of new NBC was due to disqualification of that particular Director, then, obviously, he cannot join the existing registered NBFC.

DR.MARIAPPAN GOVINDARAJAN on Jul 16, 2021

Yes he can join subject to the condition stipulated by Yagay

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