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.

[YAGAY andSUN]

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]

Yes he can join subject to the condition stipulated by Yagay

AI Summary

Director disqualification bars appointment to another NBFC unless rejection was unrelated to that director's fitness. A director of a rejected NBFC may join an existing registered NBFC only if the rejection was not due to that director's personal disqualification; if the rejection was caused by the director's disqualification, the director is ineligible to join. Any permitted appointment remains subject to the usual eligibility and regulatory conditions for NBFC directors.