{"id":19953,"date":"2019-06-18T16:33:58","date_gmt":"2019-06-18T11:03:58","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?page_id=19953"},"modified":"2020-06-08T00:45:11","modified_gmt":"2020-06-07T19:15:11","slug":"recent-judgment-of-madras-high-court-on-restoration-of-nbfc-license-cancelled","status":"publish","type":"page","link":"https:\/\/enterslice.com\/learning\/whitepapers\/recent-judgment-of-madras-high-court-on-restoration-of-nbfc-license-cancelled\/","title":{"rendered":"Recent Judgment of Madras High Court on Restoration of NBFC License Cancelled Due to Insufficient Net Owned Fund"},"content":{"rendered":"<p>Madras High Court has provided a chance to Restoration of <a class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;NBFC&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;Non-Banking Financial Companies (NBFC) operate similarly to banks but do not possess the legal status of a bank. Registered under the Companies Act 2013 and governed by the RBI Act&amp;#039;s section(...)&lt;\/div&gt;\"  href=\"https:\/\/enterslice.com\/learning\/terms\/nbfc\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>NBFC<\/a> License which was canceled due to <strong><a href=\"https:\/\/enterslice.com\/learning\/restoration-nbfc-license\/\">insufficient Net Owned Fund<\/a><\/strong> (NOF). The Reserve Bank of India is empowered to regulate the activities of NBFCs in India. As per Section 45-IA of the RBI Act, it is mandatory for NBFCs to obtain a Certificate of Registration (CoR) from the Reserve Bank of India before starting its operations along with this, it is also mandatory for NBFCs to meet the Net Owned Fund (NOF) requirement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Madras High Court has provided a chance to Restoration of <a class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;NBFC&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;Non-Banking Financial Companies (NBFC) operate similarly to banks but do not possess the legal status of a bank. Registered under the Companies Act 2013 and governed by the RBI Act&amp;#039;s section(...)&lt;\/div&gt;\" href=\"https:\/\/enterslice.com\/learning\/terms\/nbfc\/\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>NBFC<\/a> License which was canceled due to insufficient Net Owned Fund (NOF). The Reserve Bank of India is empowered to regulate the activities of NBFCs in India. As per Section 45-IA of the RBI Act, it is mandatory for NBFCs to obtain a Certificate of [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":33302,"parent":15144,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"download-newsletter.php","meta":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Judgment of Madras High Court on Restoration of NBFC License<\/title>\n<meta name=\"description\" content=\"Madras High Court has provided a chance to Restoration of NBFC License which was canceled due to insufficient Net Owned Fund (NOF).\" \/>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterslice.com\/learning\/whitepapers\/recent-judgment-of-madras-high-court-on-restoration-of-nbfc-license-cancelled\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Judgment of Madras High Court on Restoration of NBFC License\" \/>\n<meta property=\"og:description\" content=\"Madras High Court has provided a chance to Restoration of NBFC License which was canceled due to insufficient Net Owned Fund (NOF).\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterslice.com\/learning\/whitepapers\/recent-judgment-of-madras-high-court-on-restoration-of-nbfc-license-cancelled\/\" \/>\n<meta property=\"og:site_name\" content=\"Enterslice\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/enterslice\" \/>\n<meta property=\"article:author\" content=\"enterslice\" \/>\n<meta property=\"article:modified_time\" content=\"2020-06-07T19:15:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2020\/05\/kjkk.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1363\" \/>\n\t<meta property=\"og:image:height\" content=\"713\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@enterslice\" \/>\n<meta name=\"twitter:site\" content=\"@enterslice\" \/>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/pages\/19953"}],"collection":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/comments?post=19953"}],"version-history":[{"count":0,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/pages\/19953\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/pages\/15144"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/media\/33302"}],"wp:attachment":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/media?parent=19953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}