Guidelines for declaring a financial Insitution as Public Financial Institution under section 4A of the Companies Act, 1956

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... st May, 2012 To All Regional Director, All Registrars of Companies, Subject: Guidelines for declaring a financial Institution as Public Financial Institution under section 4A of the Companies Act, 1956 Section 4A of the Companies Act, 1956 was inserted by the Companies (Amendment) Act, 1974 (41 of 1974) with effect from 01st February, 1975. Sub-section (2) of Section 4A .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... (c) the company must be in existence for atleast 3 years and its financial statements should show that its income from industrial/infrastructural financing activities exceeds 50% of its total income. (d) the net-worth of the company should be minimum of Rs.1000 (Rs. One Thousand) crore. (e) company is registered as a Infrastructure Finance Company (IFC) with RBI or as a Housing Finance Company .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X