https://www.taxtmi.com/acts?id=36912 Amendments raise the net owned fund requirement for non banking financial companies and permit the Reserve Bank to notify different thresholds for NBFC categories. The Bill grants the Reserve Bank power to remove directors (excluding Government companies) and to supersede boards on specified grounds, to take action against auditors for non compliance with RBI directions, to implement a statutory NBFC resolution framework, to exercise powers in respect of group companies, and to increase monetary penalties for contraventions. en-us Fri, 05 Jul 2019 18:40:00 +0530 Sat, 06 Jul 2019 11:14:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=36912 Amendments raise the net owned fund requirement for non banking financial companies and permit the Reserve Bank to notify different thresholds for NBFC categories. The Bill grants the Reserve Bank power to remove directors (excluding Government companies) and to supersede boards on specified grounds, to take action against auditors for non compliance with RBI directions, to implement a statutory NBFC resolution framework, to exercise powers in respect of group companies, and to increase monetary penalties for contraventions. Act-Rules Bill Fri, 05 Jul 2019 18:40:00 +0530 https://www.taxtmi.com/acts?id=36912