Corporate Updates 29 May 2014


RBI has issued a notification relating to Mergers & Acquisitions (M&A) involving NBFC’s to ensure that the acquirer/resulting entity subsequent to the Takeover / M&A is a “fit and proper person” and has the necessary qualifications to carry on the business of NBFCs and such transaction is not prejudicial to the public interest of its depositors. These directions are applicable to every NBFC and prior written permission of the Reserve Bank of India shall be required for transactions like takeover or acquisition of control or merger/amalgamation etc.. The approval requirement may be triggered not just for outright acquisitions or takeover but also investments that are accompanied by significant rights to the investors. Any violations of this notification could result in adverse regulatory action including cancellation of Certificate of Registration.


Delhi Government has vide its Order, decided that all Sub-Registrar offices shall with immediate effect accept documents for Registration upto 3 pm from Monday to Saturday (except 2nd Saturday) instead of Monday to Friday. This will allow all the stakeholders to plan their work accordingly and will also benefit the working people to visit their office’s on Saturday also.