https://www.taxtmi.com/caselaws?id=159722 The Supreme Court of India upheld RBI directions regulating residuary non-banking companies, holding that Chapter IIIB and Section 45K(3) authorised directions connected with receipt of deposits, including requirements on investment and disclosure in books and accounts. It also held that the challenged provisions were valid economic regulations designed to protect depositors, attract limited judicial review, and did not impose arbitrary, discriminatory, or total restrictions on business. Paragraph 6, requiring investment of deposit collections in safe assets, and paragraph 12, requiring truthful disclosure of liabilities, were found to bear a reasonable nexus to public interest and were constitutionally permissible. en-us Thu, 30 Jan 1992 00:00:00 +0530 Tue, 15 Jan 2019 15:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=159722 The Supreme Court of India upheld RBI directions regulating residuary non-banking companies, holding that Chapter IIIB and Section 45K(3) authorised directions connected with receipt of deposits, including requirements on investment and disclosure in books and accounts. It also held that the challenged provisions were valid economic regulations designed to protect depositors, attract limited judicial review, and did not impose arbitrary, discriminatory, or total restrictions on business. Paragraph 6, requiring investment of deposit collections in safe assets, and paragraph 12, requiring truthful disclosure of liabilities, were found to bear a reasonable nexus to public interest and were constitutionally permissible. Case-Laws Indian Laws Thu, 30 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=159722