https://www.taxtmi.com/caselaws?id=760869 Article 226 writ jurisdiction may be invoked to require a statutory regulator to act where it has allegedly failed to exercise continuous supervisory powers over an NBFC. Chapter III-B of the Reserve Bank of India Act is treated as a complete code for NBFC supervision, with Section 45Q giving it overriding effect over inconsistent laws. On the facts discussed, alleged breaches concerning leverage ratios, unauthorised acceptance and conversion of instruments, non-filing of returns, and possible mismanagement justified supervisory intervention, suspension of the Board, appointment of administrators, and a special audit to protect investors and stakeholders. en-us Wed, 23 Oct 2024 00:00:00 +0530 Mon, 28 Oct 2024 14:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760869 Article 226 writ jurisdiction may be invoked to require a statutory regulator to act where it has allegedly failed to exercise continuous supervisory powers over an NBFC. Chapter III-B of the Reserve Bank of India Act is treated as a complete code for NBFC supervision, with Section 45Q giving it overriding effect over inconsistent laws. On the facts discussed, alleged breaches concerning leverage ratios, unauthorised acceptance and conversion of instruments, non-filing of returns, and possible mismanagement justified supervisory intervention, suspension of the Board, appointment of administrators, and a special audit to protect investors and stakeholders. Case-Laws Companies Law Wed, 23 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760869