April 10, 2025

Power in respect of group companies (1) The Bank may, at any time, direct a non-banking financial company to annex to its financial statements or furnish separately, within such time and at such intervals as may be specified by the Bank, such statements and information relating to the business or affairs of any group company […]

Deposits not to be solicited by unauthorised persons No person shall solicit on behalf of any non-banking institution either by publishing or causing to be published any prospectus or advertisement or in any other manner deposits of money from the public unless— (a)   he has been authorised in writing by the said non-banking institution

Inspection  [(1) The Bank may, at any time, cause an inspection to be made by one or more of its officers or employees or other persons (hereafter in this section referred to as the inspecting authority)— (i)   of any non-banking institution, including a financial institution, for the purposes of verifying the correctness or completeness

Power of Bank to file winding up petition. (1) The Bank, on being satisfied that a non-banking financial company,— (a)   is unable to pay its debt; or (b)   has by virtue of the provisions of section 45-IA become disqualified to carry on the business of a non-banking financial institution ; or (c)  

Resolution of non-banking financial company (1) Without prejudice to any other provision of this Act or any other law for the time being in force, the Bank may, if it is satisfied, upon an inspection of the Books of a non-banking financial company that it is in the public interest or in the interest of

Power of bank to prohibit acceptance of deposit and alienation of assets. (1) If any non-banking financial company violates the provisions of any section or fails to comply with any direction or order given by the bank under any of the provisions of this Chapter, the bank may prohibit the non-banking financial company from accepting

Power to take action against auditors Where any auditor fails to comply with any direction given or order made by the Bank under section 45MA, the Bank, may, if satisfied, remove or debar the auditor from exercising the duties as auditor of any of the Bank regulated entities for a maximum period of three years,

Powers and duties of auditors (1) It shall be the duty of an auditor of a non-banking institution to inquire whether or not the non-banking institution has furnished to the bank such statements, information or particulars relating to or connected with deposits received by it, as are required to be furnished under this chapter, and

Duty of non-banking institutions to furnish statements, etc., required by Bank. It shall be the duty of every non-banking institution to furnish the statements, information or particulars called for, and to comply with any direction given to it, under the provisions of this Chapter.