Following a notification on 26 May, it is now mandatory for companies to obtain prior approval from the Reserve Bank of India (RBI) for any acquisition or transfer of control in any non-banking financial company (NBFC), whether deposit-accepting or non-deposit accepting. Earlier, this approval was required only for deposit-accepting NBFCs.
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The business law digest is compiled by Nishith Desai Associates (NDA). NDA is a research-based international law firm with offices in Mumbai, New Delhi, Bangalore, Singapore, Silicon Valley and Munich. It specializes in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner.
