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        Companies Law

        The amendment revises a rule under the board-meetings powers to...

        Amendment redefines 'business of financing industrial enterprises' under Section 186 to include routine NBFC and IFSC finance activities

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                The amendment revises a rule under the board-meetings powers to redefine "business of financing industrial enterprises" for section 186 purposes, expressly including: (i) for non-banking financial companies registered with the central bank, lending or providing guarantees/security for loans in the ordinary course of business; and (ii) for finance companies registered with the international financial services regulator, specified routine activities under that regulator's finance-company regulations. The rules take effect on publication in the Official Gazette and substitute the prior sub-rule.
                                Note: It is a system-generated summary and is for quick reference only.
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