Direct Tax
Consulting
ESG Advisory
Indirect Tax
Growth Advisory
Internal Audit
BFSI Audit
Industry Audit
Valuation
RBI Services
SEBI Services
IRDA Registration
AML Advisory
IBC Services
NBFC Compliance
IRDA Compliance
Finance & Accounts
Payroll Compliance Services
HR Outsourcing
LPO
Fractional CFO
General Legal
Corporate Law
Debt Recovery
Select Your Location
The Mortgage Guarantee Company is registered to provide mortgage guarantee for the repayment of an outstanding housing loan and interest accrued thereon up to the guaranteed amount to a creditor institution.
Mortgage Company means a Company registered with the Bank as Company which has primarily the business of providing mortgage guarantee. The company provides guarantee for the repayment of an outstanding housing loan and interest accrued thereon up to the guaranteed amount to a creditor institution, on the occurrence of a trigger event;
Mortgage guarantee contract means a tri-partite contract between the borrower, the creditor institution and the mortgage guarantee company, which provides the mortgage guarantee. The contract shall comply following:
Mortgage guarantee companies shall not accept public deposits.
Mortgage guarantee companies shall not avail External Commercial Borrowings.
Company shall not carry on insurance business.
No other investment including investment in subsidiaries and joint ventures would be permitted.
A company can hold investments in equity shares of any company which may be quoted or unquoted or other unquoted investments acquired in satisfaction of its debts which shall be disposed of by the mortgage guarantee company within a period of three years or within such period as extended by the Bank, from the date of such acquisition.
Read our article:Requisite for the Conversion of NBFC into Banks
Are your GAIL India Limited shares now eligible for transfer to the IEPF Authority, or have the...
India's financial sector is changing due to advancements in technology and new regulations. GIF...
The Indian startup ecosystem, which is the third-largest in the world, is expected to become a...
India's startup ecosystem has recently experienced a rapid rise as a global powerhouse. Several...
In the Union Budget 2024, Finance Minister Nirmala Sitharaman announced several changes to the...
Are you human?: 5 + 4 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
If you are older than 30 or do not spend a lot of time on the Internet, there is a good chance that you have no ide...
31 May, 2019
Foreign companies have started their business in India since 1990. Before this year, there were stringent laws and...
19 Mar, 2021