tag:blogger.com,1999:blog-80958672676475554622024-03-13T23:01:25.867-07:00Ozg Lawyers, Chennai | Tamil Nadu Law GroupOzg Lawyers | Ozg Lawyers | Ozg Lawyers | Ozg Lawyers | Ozg Lawyers Unknownnoreply@blogger.comBlogger115125tag:blogger.com,1999:blog-8095867267647555462.post-60372389526733673082022-06-23T18:03:00.002-07:002022-06-24T07:38:50.186-07:00⛔ Restitution of Conjugal Rights<br /><div><div style="text-align: justify;">WhatsApp Chat 📲 <a href="https://www.blogger.com/blog/post/edit/753337695102390476/7336246407261247736#">WA.me/918779696580</a></div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">According to experts at Ozg Center, conjugal rights can be defined the rights, especially to sexual relations, regarded as exercisable in law by each partner in a marriage. This makes sure that you are giving each other the status of spouse in the true sense.</div><div style="text-align: justify;"><br /></div><div><div class="separator" style="text-align: center;"><a href="https://www.blogger.com/blog/post/edit/753337695102390476/7336246407261247736#"><img border="0" height="740" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh2Z5njuq3ltFviMA5N6CklIOgy5JWxCqqQsgkIjLiFzGzkCdHLU6tUVlrtGCDIjZLWRilY3azIU0j4iYl6uKLdsCLgGmJJeBU0vbHuldF02cMAwQ5TvLAH3i9flRMS7qp_xy22QEPMLOFz/w487-h640/1656030472503600-0.png" width="540" /></a></div><div style="text-align: justify;"><br /></div></div><div style="text-align: justify;">When your spouse denies you your conjugal rights, you can seek legal help by claiming the restitution of your conjugal rights. If the court is satisfied that there is no legal ground to refuse the application and based on the veracity of the statements in the petition, may pass a decree for restitution of conjugal rights.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">⛔ To discuss your case, you can schedule your Tele-Appointment with Ozg Lawyers to save your precious time and hard-earned money in court cases and matrimonial disputes-related matters.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">Tele-Appointment Fee: ₹3780 </div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">Link ☎️ <a href="https://www.blogger.com/blog/post/edit/753337695102390476/7336246407261247736#">ozglaw.com/appointment</a></div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">Support ✉️ <a href="https://www.blogger.com/blog/post/edit/753337695102390476/7336246407261247736#">ask@ozgian.com</a> </div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">There are various sections providing different provisions for restitution of conjugal rights such as:</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;"><b>Section 9</b> in Hindu Marriage Act, 1955</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;"><b>Section 22 </b>in Special Marriage Act, 1954</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;"><b>Section 32</b> in Indian Divorce Act, 1869</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">⛔ <b>Reasonable Cause - </b></div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">The burden of proof in this matter is two-fold. The husband has to prove that the wife has been denying him all the marital rights & has withdrawn from his society without any major reason. On the other hand, the wife has to show such proofs that show the actual valid reason for the withdrawal such as any matrimonial misconduct that made it impossible for her to continue to live with him. If she fails to do so, the court will pass a decree to restitute the conjugal rights of the husband. If the wife is able to prove any valid ground then the petition would be dismissed.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">⛔ <b>What does withdrawal from society means?</b></div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">There is withdrawal from society when one among the spouses, without reasonable excuse, terminates an existing relationship with the intention of leaving the other and permanently or indefinitely abandoning such relationship. Withdrawal from the society not always necessarily means complete desertion or living separately, it also means withdrawal from sexual intercourse, non-cooperation in the performance of marital obligations.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">⛔ To discuss your case, you can schedule your Tele-Appointment Ozg Lawyers to save your precious time and hard-earned money in court cases and matrimonial disputes-related matters.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">Tele-Appointment Fee: ₹3780 </div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">Link ☎️ <a href="https://www.blogger.com/blog/post/edit/753337695102390476/7336246407261247736#">ozglaw.com/appointment</a></div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">Support ✉️ <a href="https://www.blogger.com/blog/post/edit/753337695102390476/7336246407261247736#">ask@ozgian.com</a> </div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">⛔ <b>Procedure for The Restitution of Conjugal Rights - </b></div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">📌 1) In this case, if you are the aggrieved party, the husband, files a petition in the district court. This can be transferred by application to the High Court or Supreme Court as well, according to the severity of the case or requirement.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">📌 2) After the filing of the petition, a copy of the petition is sent to the respondent-wife along with the date of hearing from the district court. </div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">📌 3) Both parties have to be present on the date of the hearing. If both parties are not present, the court gives another date.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">📌 4) The next step is counseling/mediation sent by the court. It is done by the family court, as provided in the Family Courts Act. This takes approximately 4 months.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">⛔ <b>What happens in Counseling?</b></div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">Once the parties are sent to counseling, they need to appear before a counselor. The counselor may be someone who has been appointed by the court. Counseling takes place on 2-3 dates with a gap of 2-3 weeks between two dates. Here, both parties are given a chance to present their versions of the facts, and the counselor tries to come to an understanding. In the end, the counselor offers advice. This may sort out the differences to go back to the husband, or to go for a divorce by mutual consent. You can message us at #Ozgian 24/7 - online support desk to learn about its eligibility criteria, timing, cost, and procedures), if the parties agree, it will imply that the purpose of counseling/ mediation has succeeded, and the suit can be dropped. However, if the parties refuse to proceed according to the suggestions of the counselor, the counselor will forward the application back to court on grounds that mediation has failed.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">WhatsApp Chat 📲 <a href="https://www.blogger.com/blog/post/edit/753337695102390476/7336246407261247736#">WA.me/918779696580</a></div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">📌 5) Once the application is back in court, the suit will continue, and the respondent-wife is required to give her ‘counter’ to the husband’s application. Oral arguments will proceed to dispose of the interim petitions first and pass the interim order.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">📌 6) The husband has to file a Chief Examination Affidavit for producing evidence that the wife has left him, which will result in cross-examination.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">📌 7) Final arguments take place next, where both the parties represent their version of facts and ultimately pray for relief from the Judge. Based on the counseling, statements made, and the conduct of the parties, the judge accordingly grants the decree.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">⛔ <i><b>What do our clients say?</b></i></div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">"I received a call from Ozg Lawyers and my problem get sorted out! I couldn't believe it - my legal plan just saved me from a huge loss." </div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">Simply, WhatsApp / Email / Call to connect with us.</div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">Appointment Link:</div><div style="text-align: justify;"><a href="https://www.blogger.com/blog/post/edit/753337695102390476/7336246407261247736#">ozglaw.com/appointment</a></div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">Case Winning Doc:</div><div style="text-align: justify;"><b>Ozg Documentation Centre</b></div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">Support:</div><div style="text-align: justify;"><b>Ozgian 24x7</b></div><div style="text-align: justify;"> </div><div style="text-align: justify;">Litigation:</div><div style="text-align: justify;"><b>Ozg Lawyers</b> </div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">#ozgdocumentationcentre #ozgindia #ozglaw #stalking #revengeporn #sexlessmarriage #mutualdivorce #divorceadvice #divorceproblemsolution #divorces #hindumarriageact #dvcase #Sec498a #Sec377 #divorcelawyer #ozglawyer #ozgadvocate #alimony #HinduMarriage #unnaturalsex #ozglegal #crpc125 #domesticabuse #nosexdivorce #domesticviolence #sec354 #legalnotice </div><div style="text-align: justify;"><br /></div><div style="text-align: justify;">WhatsApp Chat 📲 <a href="https://www.blogger.com/blog/post/edit/753337695102390476/7336246407261247736#">WA.me/918779696580</a></div></div>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-17380141115378358332022-01-13T07:39:00.001-08:002022-01-13T07:39:03.645-08:00Received Notice for Money Laundering Case? Before appearing on summons at Enforcement Directorate and recording your statements, please make sure you've consulted with Ozg Lawyers<p dir="ltr"><br></p><p dir="ltr">The offence of Money Laundering generally involve the following three stages namely placement, layering and integration<b>.</b></p><p dir="ltr"><b></b></p><div class="separator"><b><a href=""><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhrVZBvKNftRJW3fEElfQ-wIunU_JjEjuhZ-_oA3my6pallMVwKwyCGtuqT3HoPug1JkVxynnygIX6VAoV3DRsqqJw3_sD9nvBsZo0H7TX7nuA-2i6dcf5pgiffSbo7g-3BBXGjUJVw1gM/s1600/1642053263390531-0.png" width="500"></a></b></div><div><br></div><p></p><p dir="ltr"><b>📌 Placement:</b></p><p dir="ltr">The Money Launderer, who is holding the money generated from criminal activities, introduces the illegal funds into the financial systems. This might be done by breaking up large amount of money into less conspicuous smaller sums which are deposited directly into a Bank Account or by purchasing a series of financial products<b>.</b></p><p dir="ltr"><b>📌 Layering:</b></p><p dir="ltr">In this stage, the Money Launderer typically engages in a series of continuous conversions or movements of funds, within the financial or banking system by way of numerous accounts, so as to hide their true origin and to distance them from their criminal source. The Money Launderer may use various channels for movement of funds, like a series of Bank Accounts, sometimes spread across the globe, especially in those jurisdictions which do not cooperate in anti-money laundering investigations.</p><p dir="ltr"><b>📌 Integration:</b></p><p dir="ltr">Having successfully processed through the first two stages of Money Laundering, the Launderer then moves to this third stage in which the funds reach the legitimate economy, after getting inseparably mixed with the legitimate money earned through legal sources of income. The Money Launderer might then choose to invest the funds into real estate, business ventures & luxury assets, etc. so that he can enjoy the laundered money, without any fear of law enforcement agencies.</p><p dir="ltr">The above three steps may not always follow each other. At times, illegal money may be mixed with legitimate money, even prior to placement in the financial system. In certain cash rich businesses like Gambling and Real Estate, the proceeds of crime may be invested without entering the mainstream financial system at all.</p><p dir="ltr">Before appearing on summons at Enforcement Directorate and recording your statements, please make sure you've consulted with Ozg Lawyers. Please, follow link at below to schedule your tele-appointment with Ozgian.</p><p dir="ltr"><b>Ozg Lawyers: AML Advisory</b></p><p dir="ltr">₹3780 ☎️ <a href="http://ozglaw.com/appointment">ozglaw.com/appointment</a></p><p dir="ltr">WhatsApp📲 <a href="http://wa.me/918779696580">WA.me/918779696580</a></p><p dir="ltr">The supporting case documents get you a better strength than anything else. You may consider taking services of Ozg Documentation Centre for the same.</p><p dir="ltr">Email: <a href="mailto:legal@documentationcentre.com">legal@documentationcentre.com</a></p><p dir="ltr"><b>Punishment -</b></p><p dir="ltr">📌 Attachment of property under Section 5 of PMLA, 2002, seizure or freezing of property and records under Section 17 or Section 18 of PMLA, 2002. It is also applied on assets of any kind used in the commission of an offence under PMLA, 2002 or any of the scheduled offences.</p><p dir="ltr">📌 Persons found guilty of an offence of Money Laundering are punishable with imprisonment for a term which shall not be less than 3 years but may extend up to 7 years and shall also be liable to fine under Section 4 of PMLA, 2002.</p><p dir="ltr">📌 When the scheduled offence committed is under the Narcotic Drugs and Psychotropic Substances Act (NDPS), 1985 the punishment shall be imprisonment for a term which shall not be less than 3 years but which may extend up to 10 years and shall also be liable to fine.</p><p dir="ltr">📌 The prosecution or conviction of any legal juridical person is not contingent on the prosecution or conviction of any individual.</p><p dir="ltr">Before appearing on summons at Enforcement Directorate and recording your statements, please make sure you've consulted with Ozg Lawyers. Please, follow link at below to schedule your tele-appointment with Ozgian.</p><p dir="ltr"><b>Ozg Lawyers: AML Advisory</b></p><p dir="ltr">₹3780 ☎️ <a href="http://ozglaw.com/appointment">ozglaw.com/appointment</a></p><p dir="ltr">WhatsApp📲 <a href="http://wa.me/918779696580">WA.me/918779696580</a></p><p dir="ltr">The supporting case documents get you a better strength than anything else. You may consider taking services of Ozg Documentation Centre for the same.</p><p dir="ltr">Email: <a href="mailto:legal@documentationcentre.com">legal@documentationcentre.com</a></p><p dir="ltr"><b>Enforcement Directorate (ED)</b></p><p dir="ltr">The ED has got following power -</p><p dir="ltr">📌 To provisionally attach any property derived or obtained, directly or indirectly, by any person as a result of criminal activity relating to a scheduled offence or the value of any such property under Section 5 of PMLA Act, 2002;</p><p dir="ltr">📌 To conduct survey of a place under Section 16 of PMLA Act, 2002;</p><p dir="ltr">📌 To conduct search of building, place, vessel, vehicle or aircraft & seize/freeze records & property under Section 17 of PMLA Act, 2002;</p><p dir="ltr">📌 To conduct personal search under Section 18 of PMLA Act, 2002;</p><p dir="ltr">📌 To arrest persons accused of committing the offence of Money Laundering under ection 19 of PMLA Act, 2002;</p><p dir="ltr">📌 To summon and record the statements of persons concerned under Section 50 of PMLA Act, 2002.</p><p dir="ltr">Before appearing on summons at Enforcement Directorate and recording your statements, please make sure you've consulted with Ozg Lawyers. Please, follow link at below to schedule your tele-appointment with Ozgian.</p><p dir="ltr"><b>Ozg Lawyers: AML Advisory</b></p><p dir="ltr">₹3780 ☎️ <a href="http://ozglaw.com/appointment">ozglaw.com/appointment</a></p><p dir="ltr">WhatsApp📲 <a href="http://wa.me/918779696580">WA.me/918779696580</a></p><p dir="ltr">The supporting case documents get you a better strength than anything else. You may consider taking services of Ozg Documentation Centre for the same.</p><p dir="ltr">Email: <a href="mailto:legal@documentationcentre.com">legal@documentationcentre.com</a></p><p dir="ltr"><b>Time limit of Seizure -</b></p><p dir="ltr">📌 The property & record may, if seized be retained or if frozen may continue to remain frozen for a period not exceeding 180 days from the day on which such property or record were seized or frozen, unless the Adjudicating Authority permits retention of such record or property beyond the period of 180 days as per sections 20 & 21 of PMLA, 2002.</p><p dir="ltr"><b>Arrest -</b></p><p dir="ltr">📌 The Authorized Officer making arrest shall, as soon as may be, inform the arrestee of the grounds for such arrest.</p><p dir="ltr">📌 Every person so arrested shall, within twenty four hours, be taken to a Judicial Magistrate or a Metropolitan Magistrate, as the case may be, having jurisdiction as per section 19 of PMLA, 2002.</p><p dir="ltr">📌 To get consultation on your case, please schedule a tele-appointment with Ozg Lawyers at link below or please write an email to: <a href="mailto:support@ozglaw.com">support@ozglaw.com</a></p><p dir="ltr"><b>Ozg Lawyers: AML Advisory</b></p><p dir="ltr">☎️ <a href="http://ozglaw.com/appointment">ozglaw.com/appointment</a></p><p dir="ltr">📲 <a href="http://wa.me/918779696580">WA.me/918779696580</a></p><p dir="ltr">📲 <a href="http://moneylaundering.ozg.in/">moneylaundering.ozg.in</a></p><p dir="ltr">************************************</p><p dir="ltr">FATF FIU ozglaw Havala Hawala</p>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-43373624160860246542020-02-23T01:45:00.002-08:002020-02-23T01:45:51.220-08:00Migration of OSP Registration - Network Compliance Consultant - DoT License
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<span style="color: #424242; font-family: "calibri" , sans-serif; font-size: 11.5pt;">The Ministry of
Communication, Department of Telecommunication (DoT) with a view to ensure <b>Ease of Doing Business</b>, in an
Instruction dated <strong><span style="font-family: "calibri" , "sans-serif";">15</span></strong></span><strong><sup><span style="color: #424242; font-family: "calibri" , "sans-serif"; font-size: 8.5pt;">th</span></sup></strong><strong><span style="color: #424242; font-family: "calibri" , "sans-serif"; font-size: 11.5pt;"> November
2018</span></strong><span style="color: #424242; font-family: "calibri" , sans-serif; font-size: 11.5pt;">, had announced the launch of a web based portal ‘SARAL SANCHAR’
to simplify the old system. It offers a fully paperless filing platform for OSP
license and compliance.</span></div>
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<span style="color: #424242; font-family: "calibri" , "sans-serif"; font-size: 11.5pt;">Going forward, DoT by a
Circular dated 31</span><sup><span style="color: #424242; font-family: "calibri" , "sans-serif"; font-size: 8.5pt;">st</span></sup><span style="color: #424242; font-family: "calibri" , "sans-serif"; font-size: 11.5pt;"> May 2019 has directed all the existing users who are still
registered on the old portal to migrate their registrations to the SARAL
SANCHAR Portal with no additional fees as per the instruction as follows:<o:p></o:p></span></div>
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<span style="color: #424242; font-size: 11.5pt; line-height: 150%; text-indent: -18pt;"> 1. </span><span style="color: #424242; font-size: 11.5pt; line-height: 150%; text-indent: -18pt;">One Time user registration must be completed on SARAL
Sanchar Portal to create Login/Password, if not done earlier.</span><br />
<span style="color: #424242; font-size: 11.5pt; line-height: 150%; text-indent: -18pt;">2.<span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="color: #424242; font-size: 11.5pt; line-height: 150%; text-indent: -18pt;">Applicants with Old Registrations will be able to see
their Registration details of all old registrations in new portal at </span><a href="http://www.osplicense.com/" style="text-indent: -18pt;"><span style="color: #4aa2d1; font-size: 11.5pt; line-height: 150%;">www.saralsanchar.gov.in</span></a><span style="color: #424242; font-size: 11.5pt; line-height: 150%; text-indent: -18pt;"> by
creating their Log-in ID on the Saral Sanchar portal by following the procedure
mentioned there.</span><br />
<span style="color: #424242; font-size: 11.5pt; line-height: 150%; text-indent: -18pt;">3.<span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="color: #424242; font-size: 11.5pt; line-height: 150%; text-indent: -18pt;">After logging in the Saral Sanchar Portal, the applicant
will be able to migrate Registrations under the tab “OSP Migration
Application”.</span><br />
<span style="color: #424242; font-size: 11.5pt; line-height: 150%; text-indent: -18pt;">4.<span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><span style="color: #424242; font-size: 11.5pt; line-height: 150%; text-indent: -18pt;">All documents should be digitally signed by applicant.
You will not be able to upload any digitally unsigned documents at portal.</span><!--[if !supportLists]--></div>
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<span style="color: #424242; font-size: 11.5pt;">Please, note there is no deadline provided for migration
of OSP license, but old license and approved network diagram will be effectively
invalid until it is approved again at Saral Sanchar portal.</span><span style="font-size: 14.0pt; letter-spacing: -.05pt; mso-ascii-font-family: Calibri; mso-bidi-font-family: Calibri; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN; mso-hansi-font-family: Calibri;"><o:p></o:p></span></div>
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<span style="color: red; font-family: "century gothic" , "sans-serif"; font-size: 24.0pt;">OSP Compliance Consultant</span><span style="color: red; font-family: "century gothic" , "sans-serif"; font-size: 13.0pt;"><o:p></o:p></span></div>
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<span style="background: white; color: #cccccc; font-family: "trebuchet ms" , "sans-serif"; font-size: 8.0pt;">DoT OSP License & Compliance Consultant in Mumbai / Bangalore /
Hyderabad</span><span style="color: black; font-family: "arial" , "sans-serif"; font-size: 10.5pt;"><br />
</span><span style="background: white; border: none 1.0pt; color: #cccccc; font-family: "trebuchet ms" , "sans-serif"; font-size: 8.0pt; padding: 0cm;">Ozg Law
@ Ozg Law @ Ozg Law @ Ozg Law @ Ozg Law @ Ozg Law
@ Ozg Law @ Ozg Law</span><span style="background: white; border: none 1.0pt; color: #cccccc; font-family: "trebuchet ms" , "sans-serif"; font-size: 8.0pt; padding: 0cm;"><o:p></o:p></span></div>
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<b><span style="color: #0070c0; font-family: "times" , "serif"; font-size: 18.0pt;">Email:</span></b><b><span style="color: black; font-family: "times" , "serif"; font-size: 18.0pt;"> ask@osplicense.com</span></b><span style="color: black; font-family: "arial" , "sans-serif"; font-size: 10.5pt;"><o:p></o:p></span></div>
<br />Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-14461412079782985032020-02-11T19:15:00.001-08:002020-02-11T19:15:25.327-08:00IPTV License, Compliance, DoT Fee
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(i) Telecom service providers (UASL, CMTS) having license to provide triple play services and ISPs with net worth more than Rs. 100 Crores and having permission from the licensor to provide IPTV or any other telecom service provider duly authorized by the Department of Telecom will be able to provide IPTV service under their licenses without requiring any further registration.</div>
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Similarly cable TV operators registered under Cable Television Network (Regulation) Act 1995 (referred as Cable Act hereafter) can provide IPTV services without requiring any further permission.</div>
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(ii) All telecom licensees/ Cable operators before providing IPTV will give a self certified declaration to I&B ministry, DoT and TRAI giving details such as license/ registration under which IPTV service is proposed, the start date, the area being covered, and details of the network infrastructure etc.</div>
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(iii) Telecom service providers as mentioned above will be subjected to percentage of Adjusted Gross Revenue (AGR) as license fee as applicable from time to time which is presently 6%, 8%, and 10% for access service licensees in category “C”, Category “B” and category “A” circles and 6% for ISPs. In case any telecom service provider register itself as cable operator and provides IPTV using its telecom resources, it shall be considered as service under telecom license. Such a service provider shall have to pay the license fee on IPTV revenue also as applicable to its telecom license.</div>
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(iv) The Ministry of Information and Broadcasting has already requested Bureau of Indian Standards to lay down the specifications for IPTV set top boxes for use in cable networks.. The cable operator providing IPTV service will be required to ensure within a period of six months from the date of publication of the Indian Standards by BIS that the IPTV set top boxes required to receive IPTV services conform to the BIS specifications.</div>
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(v) The Cable operators while providing IPTV services will continue to be governed by the provisions of the Cable Television Networks (Regulation) Act, 1995, The Telecom Regulatory Authority of India Act,1997 and any other laws as applicable and as such shall be able to provide such content on their IPTV service which is permissible as per the Cable Act and which is in conformity with the Programme and Advertisements Codes prescribed thereunder.</div>
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(vi) Telecom licensees while providing TV channels through IPTV shall transmit only such broadcast satellite television channels in exactly same form (unaltered) which are registered with or are otherwise permitted by the Ministry of Information and Broadcasting. In such cases, the responsibility to ensure that content is in accordance with the extant laws, rules, regulations etc shall be that of the broadcaster and telecom licensee will not be held responsible. The IPTV service provider shall not carry any broadcast satellite television channels prohibited either permanently or temporarily or not registered with the Ministry of Information & Broadcasting.</div>
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(vii) The Telecom Licensee while providing TV services through IPTV shall receive the satellite signals of a registered TV channel directly from the broadcasters and in no case such satellite signals of TV channels be taken directly from the Multi System Operators. In other words, the telecom operators providing IPTV will be eligible to obtain/receive satellite signals of registered TV channels only from the broadcaster.</div>
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(viii) Telecom service providers providing IPTV will show only those News and Current Affairs television channels which have been registered with Ministry of Information and Broadcasting. They will not produce or provide any other broadcast or non-broadcast channel having any element of News and Current Affairs.</div>
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(ix) The provisions of Programme code and Advertisement code as provided in Cable Television Network (Regulation) Act 1995 and Rules thereunder shall be applicable even in the case of contents other than TV Channels from broadcast provided by the Telecom IPTV service provider. Since it is the telecom licensee who will be providing this content, therefore, he shall be responsible for ensuring compliance to the codes with respect to such content. In addition to this, such licensees will also be bound by various Acts, instructions, directions, guidelines issued by the Central Government from time to time to regulate the contents.<br />
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(x) If the contents are being sourced from content providers other than telecom service provider, then it will be the responsibility of telecom service provider to ensure that their agreements with such content providers contain appropriate clauses to ensure prior compliance with the Programme and Advertisement Codes and other relevant Indian laws, civil and criminal, regarding content.</div>
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(xi) The Central Government in the Ministry of Information and Broadcasting shall have the right to notify the number and names of channels of Prasar Bharati or any other channel for compulsory carriage by the IPTV service provider in his service and the manner of reception and retransmission of such channels.</div>
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(xii) The IPTV service provider either a telecom licensee or a cable operator should provide commercial interoperability so that if the subscribers decide to switch over to any other service provider or platform they should be able to do so at least cost. Commercial interoperability here would mean that in addition to offering the receiver set on an outright purchase basis, a subscriber should also have the option to purchase it on a hire-purchase basis or on rental basis with a provision to return the receiver set on such terms and conditions as may be laid down by regulations issued by TRAI.</div>
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(xiii) The Government in the Ministry of Information and Broadcasting may direct the IPTV service providers to ensure preservation and retention for specified periods of different kinds of content made available to their subscribers and requires it to ensure its security and also that it is not tampered with during such period. The IPTV service provider may be required to produce the same to the Government or its authorized representative, as and when required and the IPTV service providers will be required to ensure compliance to all such directions.</div>
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(xiv) The IPTV service provider shall provide the necessary facility for continuous monitoring of the IPTV network at its own cost and maintain the recordings of programmes and advertisements carried on the network for a period of 90 days from the date of broadcast and produce the same to the Government or its authorized representative, as and when required. Provided that in case of any dispute the records of broadcast of programmes and advertisements shall be maintained till final disposal of the dispute.</div>
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Provided further that the IPTV service provider shall provide access to the Government or its authorized representative to all its facilities including equipments, records, system etc. for purposes of inspection.</div>
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(xv) On demand by the Government in the Ministry of Information and Broadcasting or its authorized representative, an IPTV service provider shall provide the necessary equipment, services and facilities at designated place(s) for continuous monitoring of the IPTV service by or under supervision of the Government or its authorized representative.</div>
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(xvi) The IPTV service provider shall submit such information with respect to its service as may be required by the Government in the Ministry of Information and Broadcasting or its authorized representative from time to time.</div>
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(xvii) The IPTV service provider shall furnish any such information at periodic intervals as may be required by the Government in the Ministry of Information and Broadcasting or its authorized representative concerning Programme Content and Quality, Technical Parameters etc. relating to the service in the format as may be required by the Government or its authorized representative from time to time.</div>
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(xviii) The Government of India, Ministry of Information & Broadcasting or its authorized representative shall have the right to inspect the IPTV service facilities. No prior permission/intimation shall be required to exercise the right of Government or its authorized representative to carry out the inspection. The IPTV service provider will, if required by the Government or its authorized representative, provide necessary facilities for continuous monitoring for any particular aspect of the companies activities and operations.</div>
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(xix) The Government of India, Ministry of Information & Broadcasting or its authorized representative will ordinarily carry out the inspection after reasonable notice except in circumstances where giving such a notice will defeat the very purpose of the inspection.</div>
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(xx) The IPTV service provider shall furnish the complete details such as name, technical details and license etc. of the value added service being provided through IPTV network.</div>
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Provided that in case any new value added service is added to the network, the IPTV Service provider shall obtain prior approval of the Government or licensing authority. The Government or the licensing authority may from time to time , prescribe or prohibit certain value added services.</div>
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(xxi) Any violation of prevailing Acts/ Rules/ guidelines pertaining to the administrative jurisdiction of Department of Information Technology in the Ministry of Communication and Information Technology, and Ministry of Information and Broadcasting, relating to content by telecom service providers in provisioning of IPTV service shall be reported to DoT by respective Department/Ministry. The decision of the respective Department/Ministry regarding violation of the law/ direction/ guidelines in respect to content shall be final. DoT may perhaps seek the guidance of the respective ministries to ascertain the penalties for the breach to maintain uniformity and shall initiate suitable action for imposing penalties for violations in time bound manner.</div>
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(xxii) Any breach of the provisions of Act/ License/ Registration/ Permission by telecom service provider/ cable operator/ Broadcasters shall be dealt with by designated agencies which are responsible for administering such Acts/License/ Registration/ Permissions.</div>
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(xxiii) The Government shall have the right to modify at any time the provisions of these guidelines and/or the terms and conditions of permission/registration, if in the opinion of the Government it is necessary or expedient to do so in public interest or in the interest of the security of the State. The decision of the Government shall be final and binding in this regard.</div>
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Ozg Law ~ Ozg Law ~ Ozg Law ~ Ozg Law</div>
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-66810801700636638882020-01-16T22:35:00.001-08:002020-01-16T22:35:07.306-08:00Why commercial use of WhatsApp / Skype / Foreign VoIP is not allowed for Startup without OSP License & Compliance?
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<span style="background: white; border: none 1.0pt; color: #cccccc; font-family: "trebuchet ms" , "sans-serif"; font-size: 8.0pt; padding: 0cm;">Ozg Lawyers @ Ozg Lawyers @ Ozg Lawyers @ Ozg
Lawyers </span></div>
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<span style="font-family: "georgia" , "serif"; font-size: 14.0pt; letter-spacing: -0.05pt;">Some new born Startups proposed
that the contact center be run over a cloud-hosted telephony system. As per
their model, calls would be generated from abroad, sent to a Cloud Hosted Automatic
Call Distribution System (ACD) which would also be based abroad, and then
routed over to the India-based contact center. Agents sitting in the contact
center would connect to the ACD accounts to receive and make calls. The
argument fundamentally was that, since there is no PSTN anywhere in the whole
setup, and the whole contact center has no possibility of PSTN-VOIP merging,
the contact center would legally comply with OSP norms.<o:p></o:p></span></div>
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<a href="https://wa.me/918779696580" target="_blank"><img height="650" src="https://pbs.twimg.com/media/EN641-tUYAEr6q8.jpg" width="540" /></a></div>
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<span style="font-family: "georgia" , "serif"; font-size: 14.0pt; letter-spacing: -0.05pt;">DoT guidelines explicitly
state that Voice traffic must be routed through MPLS, Point to Point link or
PSTN path only. In India, carrying voice over the Internet for commercial use
is not allowed. There are any number of reasons for this, but the salients ones
are:<o:p></o:p></span></div>
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</span></span></span><!--[endif]--><span style="font-family: "georgia" , "serif"; font-size: 14.0pt; letter-spacing: -0.05pt;">The Voice managing server is
outside India, so DoT and security agencies become worried about getting access
to the ACDs and the CDRs and system logs.<o:p></o:p></span></div>
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</span></span></span><!--[endif]--><span style="font-family: "georgia" , "serif"; font-size: 14.0pt; letter-spacing: -0.05pt;">Additionally, from a security
point of view, in this model, it becomes far more difficult to capture and
decrypt voice conversations.<o:p></o:p></span></div>
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<span style="font-family: "georgia" , "serif"; font-size: 14.0pt; letter-spacing: -0.05pt;">Note that one of the key
defining requirements for OSP approval is that national security requirements
be maintained — and this variant of the cloud-hosted model clearly fails that
requirement. DoT does not approve these kinds of architectures. All OSPs will
need to take the connection from India based authorized VoIP service providers
only.<o:p></o:p></span></div>
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<span style="font-family: "georgia" , serif; font-size: 14pt; letter-spacing: -0.05pt;">Finally, when we see
the </span><b style="font-family: Georgia, serif; font-size: 14pt; letter-spacing: -0.05pt;">Clarification Terms and Condition for OSP dated №18–1/2009-CS-1
Dated: the 25th February, 2009</b><span style="font-family: "georgia" , serif; font-size: 14pt; letter-spacing: -0.05pt;">, issued by the DoT, it explicitly mentions
that “use of Foreign VoIP minutes by OSPs is not permissible”.</span></div>
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<span style="font-family: "georgia" , "serif"; font-size: 14.0pt; letter-spacing: -0.05pt;">In short, our advice to all
OSPs that intend to use cloud-hosted systems in this fashion is simple — avoid,
avoid, avoid! Remember the cost of compliance may seem high, but it is far
lower than the cost of being caught in non-compliance.<o:p></o:p></span></div>
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<span style="color: red; font-family: "century gothic" , "sans-serif"; font-size: 24.0pt;">OSP Compliance Consultant</span><span style="color: red; font-family: "century gothic" , "sans-serif"; font-size: 13.0pt;"><o:p></o:p></span></div>
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<span style="background: white; color: #cccccc; font-family: "trebuchet ms" , "sans-serif"; font-size: 8.0pt;">DoT OSP Compliance Consultant in Mumbai / Bangalore /
Hyderabad</span><span style="color: black; font-family: "arial" , "sans-serif"; font-size: 10.5pt;"><br />
</span><span style="background: white; border: none 1.0pt; color: #cccccc; font-family: "trebuchet ms" , "sans-serif"; font-size: 8.0pt; padding: 0cm;">Ozg Lawyers @ Ozg
Lawyers @ Ozg Lawyers @ Ozg Lawyers<o:p></o:p></span></div>
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<b><span style="color: #0070c0; font-family: "times" , "serif"; font-size: 18.0pt;">Email:</span></b><b><span style="color: black; font-family: "times" , "serif"; font-size: 18.0pt;"> ask@osplicense.com</span></b><span style="color: black; font-family: "arial" , "sans-serif"; font-size: 10.5pt;"><o:p></o:p></span></div>
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<br />Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-4355452527066427932019-12-11T02:19:00.001-08:002019-12-11T02:19:22.244-08:00M2M License & IoT Network Consultant - Ozg India
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<span style="font-size: x-large;">M2M & IoT Network</span></div>
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<span style="font-family: "times" , "times new roman" , serif;"><span style="line-height: 19.26px;"><b><span style="color: #cc0066;"><span style="font-size: medium;">DoT License & Compliance Advisory</span><span style="color: black; font-size: 14.3px;"><br /></span></span></b></span></span></div>
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<span style="color: #cccccc; font-family: "trebuchet ms" , sans-serif; font-size: xx-small;"><span style="font-size: 10.6667px;"> </span></span><span style="border: 1pt none; color: #cccccc; font-family: "trebuchet ms" , sans-serif; font-size: 8pt; padding: 0cm;">Ozg Lawyers </span><span style="border: 1pt none; color: #cccccc; font-family: "trebuchet ms" , sans-serif; font-size: 8pt; padding: 0cm;">@ </span><span style="border: 1pt none; color: #cccccc; font-family: "trebuchet ms" , sans-serif; font-size: 8pt; padding: 0cm;">Ozg Lawyers </span><span style="border: 1pt none; color: #cccccc; font-family: "trebuchet ms" , sans-serif; font-size: 8pt; padding: 0cm;">@ </span><span style="border: 1pt none; color: #cccccc; font-family: "trebuchet ms" , sans-serif; font-size: 8pt; padding: 0cm;">Ozg Lawyers</span></div>
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All existing telecom service providers can be allowed to provide Machine-to-Machine (M2M) or IoT solutions within their specified circle of operations as per telecom regulator TRAI recommendations. License holders can use existing spectrum to provide IoT services while TRAI is also considering de-licensing spectrum under the <b>867-868 MHz, 915-935 MHz </b>and<b> 57-64 GHz bands</b> for M2M and IoT.</div>
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The regulator has also put forward recommendations on SIM roaming, Quality of Service levels, privacy, security, and other aspects of IoT/M2M. Below is a lowdown of the recommendations. <b>Please, note that these recommendations will be reviewed and approved by the Department of Telecommunications (DoT).</b></div>
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<span style="font-weight: 700;"><span style="color: blue;"><span style="font-size: large;">1) Who can provide M2M / IoT services? </span><span style="font-size: 17px;"> </span></span></span></div>
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<li style="box-sizing: border-box; padding: 0px 0px 8px; text-align: justify;">DoT license holders including VNOs: Like pointed out above all basic service (data, voice) licensees, Virtual Network Operators (VNOs), and ISPs are allowed to provide M2M service in India “including on unlicensed band, within the area of their existing authorizations, barring M2M cellular services.” </li>
<li style="box-sizing: border-box; padding: 0px 0px 8px; text-align: justify;"><span style="box-sizing: border-box; color: initial; font-weight: 700;">Critical IoT/M2M services should be provided under licensed spectrum</span>: The government, through DoT, should identify critical services and differentiate them from non-critical services, the regulator said. IoT and M2M applications in healthcare, remote surgery, driverless cars etc. require high QoS, ultra reliability, very low latency, very high availability and accountability. <span style="box-sizing: border-box; color: initial; font-weight: 700;">Therefore, these critical services should be provided only by “robust wired optical fiber, copper network or LTE capable access networks.</span>” </li>
<li style="box-sizing: border-box; padding: 0px 0px 8px; text-align: justify;"><span style="box-sizing: border-box; color: initial; font-weight: 700;">Each sector can have its own IoT regulations</span>: IoT and M2M services are still at a very nascent stage in India. Industry regulators (apart from TRAI) like Central Drug Standards Control Organization, National Highways Authority of India, Inland Waterways Authority of India, Central Electricity Regulatory Commission, etc. and Ministry of Law and Justice can constitute their own regulations and policies regarding M2M and IoT solutions.</li>
<li style="box-sizing: border-box; padding: 0px 0px 8px; text-align: justify;"><span style="box-sizing: border-box; color: initial; font-weight: 700;">New M2M Service Providers (MSP) category</span>: An IoT or M2M service provider can also be a telecom service provider and could also provide services for both enterprises and home users. TRAI wants M2M / IoT providers to identify themselves as an MSP legally. Because some telecom providers might also provide tele-banking, e-commerce, call center hosting, vehicle tracking, etc. but these will be classified under <a href="http://osplicense.com/">Other Service Providers (OSP)</a> list. </li>
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<li style="box-sizing: border-box; padding: 0px 0px 8px; text-align: justify;">Exclusive guidelines for M2M Service Provider (MSP) Registration should be issued. MSPs should also provide details of the connectivity provider who would be providing connectivity to their M2M application.</li>
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<span style="box-sizing: border-box; color: blue;">2) Security and Privacy -</span></h3>
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<li style="box-sizing: border-box; padding: 0px 0px 8px; text-align: justify;"><span style="box-sizing: border-box; color: initial; font-weight: 700;">“Security by design” principle</span>: TRAI calls upon the government (DoT) to create fresh guidelines for manufacturing and importing of M2M / IoT devices to India. These guidelines should look “the amount and sensitivity of data collected and the costs of remedying the security vulnerabilities.” At the same time, “low-risk” IoT devices (like LED bulbs) need not be burdened with too much regulation, so the government could look at creating a “graded” level of security certification for devices.</li>
<li style="box-sizing: border-box; padding: 0px 0px 8px; text-align: justify;"><span style="box-sizing: border-box; color: initial; font-weight: 700;">Standards for IoT and M2M systems</span>: Since most of the M2M applications “would be operating in (an) unlicensed band, the government should issue specific standards for devices to be used in the M2M ecosystem, in line with international standards organizations.”. For this, the regulator suggests setting up an independent IoT/M2M certification body which certifies both hardware and software segments.</li>
<li style="box-sizing: border-box; padding: 0px 0px 8px; text-align: justify;"><span style="box-sizing: border-box; color: initial; font-weight: 700;">Special Security recommendation for North Eastern and J&K</span>: “Suitable security mechanism similar to the existing mobile networks shall be put in place by the DoT for the Border States like J&K and NE areas, if deemed fit.” </li>
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<span style="box-sizing: border-box; color: blue;">3) Entry Fee, Bank Guarantee, Network requirements etc. for M2M and IoT license:</span></h3>
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Existing and new operators can get licenses from the DoT under different categories including:</div>
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-UL (M2M) Category ‘A’ for National area</div>
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-UL (M2M) Category ‘B’ for Telecom circle/ Metro area</div>
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-UL (M2M) Category ‘C’ for city bases coverage</div>
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<span style="color: blue; letter-spacing: -0.6px;">4) Spectrum availability, usage and SIM requirements:</span></h3>
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<li style="box-sizing: border-box; padding: 0px 0px 8px; text-align: justify;"><span style="box-sizing: border-box; color: initial; font-weight: 700;">Spectrum allocation should be technology and service neutral</span>: No separate spectrum band should be allocated exclusively for M2M services.</li>
<li style="box-sizing: border-box; padding: 0px 0px 8px; text-align: justify;"><span style="box-sizing: border-box; color: initial; font-weight: 700;">Requirement of fresh spectrum</span>: Requirement of additional licensed spectrum for access services to meet the projected influx of connected devices due to M2M communication will be revisited by the Authority after 2019.“ licensed spectrum available with the telecom service providers as on date as well as the spectrum likely to be made available in the near future is sufficient” to meet spectrum requirements for IoT and M2M.</li>
<li style="box-sizing: border-box; padding: 0px 0px 8px; text-align: justify;"><span style="box-sizing: border-box; color: initial; font-weight: 700;">Imported SIM cards can be allowed for M2M / IoT</span>: “It should not be mandatory to use only domestically manufactured SIMs in M2M. Embedded SIMs with standard specifications can be imported and relevant information shall be submitted by importer while import of the devices/SIMs.” </li>
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<span style="box-sizing: border-box; color: blue;">5) Roaming and sharing arrangements:</span></h3>
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<li style="box-sizing: border-box; padding: 0px 0px 8px; text-align: justify;"><span style="box-sizing: border-box; color: initial; font-weight: 700;">National roaming</span> for M2M/ IoT shall be under forbearance and the rates can be set under current Telecom Tariff Orders (TTOs) for access service (voice/data) license holders, TRAI said. TRAI, however, added that it will review and issue separate Telecom Tariff Orders (TTOs) for M2M and IoT providers “at an appropriate time in future, if deemed fit.”</li>
<li style="box-sizing: border-box; padding: 0px 0px 8px; text-align: justify;"><span style="box-sizing: border-box; color: initial; font-weight: 700;">Sharing arrangements</span>: Telecom service providers (who want to provide IoT/M2M) can separately enter into commercial agreements to meet their roaming requirements for subscribers within India and outside India.</li>
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-31913609023576391112019-08-02T04:59:00.002-07:002019-08-02T04:59:10.399-07:00How to register a Cyber Crime FIR / Complaint?
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;"><span style="font-family: "trebuchet ms" , sans-serif;">1. The very first step to file a cyber crime complaint is to register a written complaint with the cyber crime cell of the city you are currently in. </span><span style="font-family: "trebuchet ms" , sans-serif;">According to the IT Act, a cyber crime comes under the purview of global jurisdiction. This means that a cyber crime complaint can be registered with any of the cyber cells in India, irrespective of the place where it was originally committed.</span></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;">At present, most cities in India have a dedicated cyber crime cell. </span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;">2. When filing the cyber crime complaint, you need to provide your name, contact details and address for mailing. You need to address the written complaint to the Head of the Cyber Crime Cell of the city where you are filing the cyber crime complaint.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;">3. In case you are a victim of online harassment / stalking, an <b>Ozg Legal Counsel</b> can be approached via WhatsApp to assist you with reporting it to the police station. Additionally, you may be asked to provide certain documents or records with the complaint. This would, however, depend on the nature of the crime.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;">4. Register a Cyber Crime FIR: If you do not have access to any of the cyber cells in India, you can file a First Information Report (FIR) at the local police station. In case your complaint is not accepted there, you can approach to the Commissioner or the city’s Judicial Magistrate.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;">5. Certain cyber crime offenses come under the Indian Penal Code. You can register a cyber crime FIR at the nearest local police station to report them. </span><span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;">It is mandatory under Section 154, Code of Criminal Procedure, for every police officer to record the information / complaint of an offense, irrespective of the jurisdiction in which the crime was committed.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;">6. Most of the cyber crimes that are covered under the Indian Penal Code are classified as cognizable offenses. A cognizable offense is the one in which a warrant is not required for an arrest or investigation. </span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;">In this case, a police officer is bound to record a Zero FIR from the complainant. He must then forward it to the police station under the jurisdiction of the place where the offense was committed.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;">7. Zero FIR offers some solace to victims of cases that require immediate attention / investigation as it avoids wasting time in enlisting the offense on police records.</span></div>
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-86976782429592498112019-08-02T04:58:00.001-07:002019-08-02T04:58:47.151-07:0065B Certificate - Cyber Crime Complaint & Evidence
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small; outline: none medium;">These documents aims to analyses the feasibility and multi-faceted utility of hash value calculation with regards to data integrity and admissibility in courts through application of Information Technology Act, 2000 and Indian Evidence Act, 1872.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small; outline: none medium;"><b style="outline: none medium;">Section 65B of Indian Evidence Act, 1872: Admissibility of Electronic Records</b></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small; outline: none medium;">(5) For the purposes of this section</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small; outline: none medium;">(a) Information shall be taken to be supplied to a computer if it is supplied thereto in any appropriate form and whether it is so supplied directly or (with or without human intervention) by means of any appropriate equipment;</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small; outline: none medium;">(b) A computer output shall be taken to have been produced by a computer whether it was produced by it directly or (with or without any human intervention) by other means of any appropriate equipment.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small; outline: none medium;"><b style="outline: none medium;">These are the main points to be considered..</b></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small; outline: none medium;">a) Section 65B of Indian Evidence Act refer to the special provisions of the Act in respect of Electronic Documents. Though Section 65 is referring to “Secondary” documents in paper form, there is no such distinction made as to the electronic document.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small; outline: none medium;">b) There is no need to distinguish Primary and Secondary and all documents need to be interpreted by a human being which takes the form of a Section 65B certificate.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small; outline: none medium;">c) A “Hard disk” which may contain an electronic document also cannot be considered the “Primary Document” since it is only a “Container” and the real Electronic document is an expression in binary language which cannot be read by a human being and needs to be interpreted with the assistance of a binary reading device</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small; outline: none medium;">d) Section 65B explains the conditions under which an electronic document can be considered as “Admissible” in a Court as a “Document” and it needs to be suitably confirmed for the Court to accept the document, which is often termed as “Section 65B certificate or Statement”</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small; outline: none medium;">e) Section 65B refers to a process of producing a “Computer Output” of the electronic document which is the evidence to be admitted and such computer output can be either in the form of a “Print Out” or a “Copy”.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small; outline: none medium;">f) There is a “Process” by which the electronic document becomes the “Computer output” and Section 65B identifies this as the subject activity which needs to be conducted by a person having lawful control over the computer producing such output and that during the period of such production, the Computer should be working properly etc.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small; outline: none medium;">g) The focus of Section 65B is the activity of conversion of the electronic document residing inside a system which can be seen by an observer into a “Computer Output”.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small; outline: none medium;">h) The other clarifications contained in the Section 65B such as that the Computer Output could be produced by a combination of computers, acting in succession etc. as relating to dynamic creation of an electronic document from a data base and routing it through multiple devices onto a final visible form in the computer of the observer and thereafter its porting into a Printer.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small; outline: none medium;">It is very important that the legal fraternity and the Judiciary interprets the section properly. Any interpretation that only a “Server Administrator” can provide a certificate under Section 65B is considered incorrect. The server administrator can however provide the certificate but it is not mandatory. The Section 65B certifier is like a photographer who captures a photograph of an event and confirms the process of taking the photograph though he may not be aware of who is there in the picture and what they are doing. It is left to other “Experts” to interpret the “Content” and impute meaning as only a subject matter expert can do.</span></div>
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<span style="outline: none medium;"><span style="font-family: "trebuchet ms" , sans-serif; font-size: x-small;">Ozg Lawyers | Ozg Lawyers | Ozg Lawyers | Ozg Lawyers</span></span></div>
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-17083116418301828332019-07-05T12:36:00.001-07:002019-07-05T12:36:35.017-07:00 DoT: VNO (Internet Provider) License Consultant Fee & Application Procedure
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<span style="color: #cc0000; font-family: "lato" , sans-serif; font-size: large;"><b>VNO License Application Procedure</b></span></div>
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<b>1. Check Eligibility:</b><br />
<b> </b>To get the approval of VNO license you need to have a company registered under Companies Act. To know more about company registration you can request a call back at sidebar or simply WhatsApp to <b>Ozg Lawyers</b>. It can be done in one to two weeks and will cost you approx INR 20,000/+.</div>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">2. Category Selection:</span><br />
<span style="text-align: justify;">Select the category in which you want to apply for the VNO License, opt between A, B or C category. The three different categories of VNO license in India are bifurcated geographically based on the city, state, village, town where you will operate your business. VNO license is cheapest for class C.</span></div>
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Categories:</div>
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<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 33px; vertical-align: baseline;">Class A ISP (PAN India)</li>
<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 33px; vertical-align: baseline;">Class B ISP (Telecom Circle/Metro Area)</li>
<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 0px 33px; vertical-align: baseline;">Class C ISP (Secondary Switching Area) </li>
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<span style="color: #373737; font-family: "lato" , sans-serif;"><span style="font-size: 15px;"><b>3. Cost analysis and setting budget:</b></span></span><br />
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To grow internet services in rural Indian towns and villages our government has kept prices extremely lower for category C compared to category A and B.</div>
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You can look into the following table to understand costing requirements to obtain a VNO license:</div>
<table style="background-color: #f9f9f9; border-collapse: collapse; border-spacing: 0px; border: 0px; box-sizing: border-box; color: #333333; font-family: Lato, sans-serif; font-size: 14px; height: 642px; margin: 0px 0px 24px; outline: 0px; padding: 0px; vertical-align: baseline; width: 724px;"><tbody style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">
<tr style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="73">Service</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="75">Minimum Equity</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="77">Minimum Net worth</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="73">Entry Fee (Rs.)</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="94">Performance BG (Rs.)</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="72">Financial BG (Rs.)</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="94">Application Processing Fee (Rs.)</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="85">Total Capital Required (Rs.)</td></tr>
<tr style="background: rgb(247, 247, 247); border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="73">ISP “A” (PAN India)</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="75">Nil</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="77">Nil</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="73">15 Lakh</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="94">Nil</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="72">Nil</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="94">50 Thousand</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="85">15,50,000</td></tr>
<tr style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="73">ISP “B” (Telecom circle/Metro Area)</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="75">Nil</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="77">Nil</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="73">1 Lakh</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="94">Nil</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="72">Nil</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="94">15 Thousand</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="85">1,15,000</td></tr>
<tr style="background: rgb(247, 247, 247); border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><td style="border-bottom: none; border-image: initial; border-left: 0px; border-right: 0px; border-top: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="73">ISP “C” (SSA)</td><td style="border-bottom: none; border-image: initial; border-left: 0px; border-right: 0px; border-top: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="75">Nil</td><td style="border-bottom: none; border-image: initial; border-left: 0px; border-right: 0px; border-top: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="77">Nil</td><td style="border-bottom: none; border-image: initial; border-left: 0px; border-right: 0px; border-top: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="73">10,000</td><td style="border-bottom: none; border-image: initial; border-left: 0px; border-right: 0px; border-top: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="94">Nil</td><td style="border-bottom: none; border-image: initial; border-left: 0px; border-right: 0px; border-top: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="72">Nil</td><td style="border-bottom: none; border-image: initial; border-left: 0px; border-right: 0px; border-top: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="94">10 Thousand</td><td style="border-bottom: none; border-image: initial; border-left: 0px; border-right: 0px; border-top: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="85">20,000</td></tr>
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<img height="640" src="https://pbs.twimg.com/media/D1bsC6cU4AAvdNf.jpg" width="558" /></div>
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As per the above table, a Class C VNO license can be acquired at 60,000 rupees approximately varying on the basis of our lawyers and ISP consultants fee at your location.</div>
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<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 24px; vertical-align: baseline;"><span style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Application filling</span></li>
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You are required to fill a VNO license form to acquire the license. Every applicant needs to pay a non-refundable amount of Rs. 15,000 towards processing fee, provide all mandatory documents, and 2 copies of the application form.</div>
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<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 24px; vertical-align: baseline;"><span style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Document Verification</span></li>
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The next step in the process is document verification, it is conducted by Department of Telecom. The verification process may take about 60 days depending on the issues arising during verification.</div>
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If everything is fine and your application is approved, you will receive a ‘Letter of Intent’ by DOT. If your documents do not comply with the application guideline there are chances that your application may be rejected. Before submitting you should get your application reviewed by any of Ozg ISP consultants / lawyers nearby.</div>
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<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 24px; vertical-align: baseline;"><span style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Letter of Intent</span></li>
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Once your application for VNO License has been approved, DOT will issue a ‘Letter of Intent’ in your favor. After receiving the ‘Letter of Intent’ you are required to submit a non-refundable one-time entry fee, the signed license agreement and other requisite documents mentioned in the letter within the time mentioned in it.</div>
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<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 24px; vertical-align: baseline;"><span style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Confirmation</span></li>
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If everything falls into place you will receive the VNO License for ISP under the Unified License for a period of 10 years. The information related to confirmation of license issue will be communicated directly to you via DOT.</div>
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The VNO licensing process is pretty complicated, applications were usually rejected on the grounds of lack of information, non-compliance, incomplete submission, the inappropriateness of documents, etc. Thus, in order to save your valuable time and money, get all your documents duly verified by Ozg ISP consultant lawyers nearby before filling the application form. For more info, simply WhatsApp or please email to:<b> ask@isplicence.com</b><br />
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<span style="font-family: "times" , "times new roman" , serif;"><span style="line-height: 19.26px;"><b><span style="color: #cc0066;"><span style="font-size: x-small;">DoT License & Compliance</span><span style="color: black; font-size: 14.3px;"><br /></span></span></b></span></span></div>
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<span style="background-color: white; border: 1pt none; color: #cccccc; font-family: "trebuchet ms" , sans-serif; font-size: 8pt; padding: 0cm;">Ozg Lawyers @</span><span style="background-color: white; border: 1pt none; color: #cccccc; font-family: "trebuchet ms" , sans-serif; font-size: 8pt; padding: 0cm;"> </span><span style="background-color: white; border: 1pt none; color: #cccccc; font-family: "trebuchet ms" , sans-serif; font-size: 8pt; padding: 0cm;">Ozg Lawyers @ </span><span style="background-color: white; border: 1pt none; color: #cccccc; font-family: "trebuchet ms" , sans-serif; font-size: 8pt; padding: 0cm;">Ozg Lawyers @</span><span style="background-color: white; border: 1pt none; color: #cccccc; font-family: "trebuchet ms" , sans-serif; font-size: 8pt; padding: 0cm;"> </span><span style="background-color: white; border: 1pt none; color: #cccccc; font-family: "trebuchet ms" , sans-serif; font-size: 8pt; padding: 0cm;">Ozg Lawyers</span></div>
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<b style="font-family: times, "times new roman", serif; font-size: large;">Email: ask@isplicence.com</b></div>
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-13356982848189330282019-05-05T02:40:00.000-07:002019-05-05T02:39:59.955-07:00 How to get a VNO-ISP license from DoT?
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The advent of present-day Information and Communication Technology has led to a paradigm shift in the communication industry. The emergence of VNOs is one such advancement which simplifies internet services and makes it more accessible.</div>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">What is VNO?</span></div>
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A Virtual Network Operator or Mobile Virtual Network Operator is an internet service reseller extending high-quality network and management services to other networking companies that do not possess their own telecom setup.<br />
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A VNO (Virtual Network Operator) License is a miniature version of an ISP license. With an ISP license, you can run internet services on a larger domain. ISPs who wish to operate small level internet service only in a particular territory can choose a VNO license instead of an ISP license. VNO is affordable, less complicated, convenient and ideal for small level ISPs.</div>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Benefits of VNO</span></div>
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<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 33px; vertical-align: baseline;">Comparatively cost-effective</li>
<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 33px; vertical-align: baseline;">Reduced network complexity</li>
<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 33px; vertical-align: baseline;">Reduced time to market</li>
<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 33px; vertical-align: baseline;">Reduced CAPEX</li>
<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 0px 33px; vertical-align: baseline;">Increased flexibility</li>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Limitations of VNO</span></div>
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<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 33px; vertical-align: baseline;">Limited scope</li>
<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 33px; vertical-align: baseline;">More competition</li>
<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 33px; vertical-align: baseline;">Dependency on owners of the underlying infrastructure</li>
<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 33px; vertical-align: baseline;">Less control over downtime</li>
<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 0px 33px; vertical-align: baseline;">No ownership</li>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">How is it Different from Normal ISP License?</span></div>
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<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 33px; text-align: justify; vertical-align: baseline;">VNO license is issued for a term of 10 years without bank guarantee whereas ISP license is issued for 20 years and with a bank guarantee.</li>
<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 33px; text-align: justify; vertical-align: baseline;">ISPs can provide ISP franchisee to other telecom companies, but VNOs cannot give franchisees.</li>
<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 0px 33px; text-align: justify; vertical-align: baseline;">ISPs have the liberty to buy and use the bandwidth of other ISP, VNOs cannot do this.</li>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">The procedure of getting a VNO License</span></div>
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<b>1. Check Eligibility:</b><br />
<b> </b>To get the approval of VNO license you need to have a company registered under Companies Act. To know more about company registration you can request a call back at sidebar or simply WhatsApp to <b>Ozg Lawyers</b>. It can be done in one to two weeks and will cost you approx INR 20,000/+.</div>
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<span style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">2. Category Selection:</span><br />
<span style="text-align: justify;">Select the category in which you want to apply for the VNO License, opt between A, B or C category. The three different categories of VNO license in India are bifurcated geographically based on the city, state, village, town where you will operate your business. VNO license is cheapest for class C.</span></div>
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Categories:</div>
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<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 33px; vertical-align: baseline;">Class A ISP (PAN India)</li>
<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 33px; vertical-align: baseline;">Class B ISP (Telecom Circle/Metro Area)</li>
<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 0px 33px; vertical-align: baseline;">Class C ISP (Secondary Switching Area) </li>
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<span style="color: #373737; font-family: lato, sans-serif;"><span style="font-size: 15px;"><b>3. Cost analysis and setting budget:</b></span></span><br />
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To grow internet services in rural Indian towns and villages our government has kept prices extremely lower for category C compared to category A and B.</div>
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You can look into the following table to understand costing requirements to obtain a VNO license:</div>
<table style="background-color: #f9f9f9; border-collapse: collapse; border-spacing: 0px; border: 0px; box-sizing: border-box; color: #333333; font-family: Lato, sans-serif; font-size: 14px; height: 642px; margin: 0px 0px 24px; outline: 0px; padding: 0px; vertical-align: baseline; width: 724px;"><tbody style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">
<tr style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="73">Service</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="75">Minimum Equity</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="77">Minimum Net worth</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="73">Entry Fee (Rs.)</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="94">Performance BG (Rs.)</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="72">Financial BG (Rs.)</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="94">Application Processing Fee (Rs.)</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="85">Total Capital Required (Rs.)</td></tr>
<tr style="background: rgb(247, 247, 247); border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="73">ISP “A” (PAN India)</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="75">Nil</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="77">Nil</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="73">15 Lakh</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="94">Nil</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="72">Nil</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="94">50 Thousand</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="85">15,50,000</td></tr>
<tr style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="73">ISP “B” (Telecom circle/Metro Area)</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="75">Nil</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="77">Nil</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="73">1 Lakh</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="94">Nil</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="72">Nil</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="94">15 Thousand</td><td style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="85">1,15,000</td></tr>
<tr style="background: rgb(247, 247, 247); border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><td style="border-bottom: none; border-image: initial; border-left: 0px; border-right: 0px; border-top: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="73">ISP “C” (SSA)</td><td style="border-bottom: none; border-image: initial; border-left: 0px; border-right: 0px; border-top: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="75">Nil</td><td style="border-bottom: none; border-image: initial; border-left: 0px; border-right: 0px; border-top: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="77">Nil</td><td style="border-bottom: none; border-image: initial; border-left: 0px; border-right: 0px; border-top: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="73">10,000</td><td style="border-bottom: none; border-image: initial; border-left: 0px; border-right: 0px; border-top: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="94">Nil</td><td style="border-bottom: none; border-image: initial; border-left: 0px; border-right: 0px; border-top: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="72">Nil</td><td style="border-bottom: none; border-image: initial; border-left: 0px; border-right: 0px; border-top: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="94">10 Thousand</td><td style="border-bottom: none; border-image: initial; border-left: 0px; border-right: 0px; border-top: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 10px; vertical-align: baseline;" width="85">20,000</td></tr>
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As per the above table, a Class C VNO license can be acquired at 60,000 rupees approximately varying on the basis of our lawyers and ISP consultants fee at your location.</div>
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You are required to fill a VNO license form to acquire the license. Every applicant needs to pay a non-refundable amount of Rs. 15,000 towards processing fee, provide all mandatory documents, and 2 copies of the application form.</div>
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<li style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px 0px 22px 24px; vertical-align: baseline;"><span style="border: 0px; box-sizing: border-box; font-family: inherit; font-style: inherit; font-weight: 700; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Document Verification</span></li>
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The next step in the process is document verification, it is conducted by Department of Telecom. The verification process may take about 60 days depending on the issues arising during verification.</div>
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If everything is fine and your application is approved, you will receive a ‘Letter of Intent’ by DOT. If your documents do not comply with the application guideline there are chances that your application may be rejected. Before submitting you should get your application reviewed by any of Ozg ISP consultants / lawyers nearby.</div>
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Once your application for VNO License has been approved, DOT will issue a ‘Letter of Intent’ in your favor. After receiving the ‘Letter of Intent’ you are required to submit a non-refundable one-time entry fee, the signed license agreement and other requisite documents mentioned in the letter within the time mentioned in it.</div>
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If everything falls into place you will receive the VNO License for ISP under the Unified License for a period of 10 years. The information related to confirmation of license issue will be communicated directly to you via DOT.</div>
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The VNO licensing process is pretty complicated, applications were usually rejected on the grounds of lack of information, non-compliance, incomplete submission, the inappropriateness of documents, etc. Thus, in order to save your valuable time and money, get all your documents duly verified by Ozg ISP consultant lawyers nearby before filling the application form. For more info, simply WhatsApp or please email to:<b> ask@isplicence.com</b><br />
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-50979732099886062992019-03-05T07:02:00.003-08:002019-03-05T07:02:46.130-08:00How to get 'Work from Home' Jobs (OSP) License?
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<span style="font-family: "trebuchet ms" , sans-serif;">Nowdays to cut the cost many of IT companies and Startups registered as OSP are opting for <b>Work from Home Jobs</b> facilities? Find here the licensing requirement for Work from Home facilities from Dept of Telecom (DoT), India. <b>Email</b> or <b>Click on Pic</b> at below to <b>WhatsApp</b> us for more information. </span></div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: 14.3px;"><span style="font-size: small;"><span style="line-height: 19.26px;"><b><span style="color: #cc0066;"><br /></span></b></span></span></span><span style="font-family: "times" , "times new roman" , serif;"><span style="line-height: 19.26px;"><b><span style="color: #cc0066;"><span style="font-size: large;">OSP License & DoT Compliance Advisory</span><span style="color: black; font-size: 14.3px;"><br /></span></span></b></span></span></div>
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<span style="color: #cccccc; font-family: "trebuchet ms" , sans-serif; font-size: x-small;"><span style="background-color: white; font-size: 10.6667px;">DoT OSP License Consultant in Mumbai / Bangalore </span></span><br />
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<b style="font-family: times, "times new roman", serif; font-size: large;">Email: ask@osplicense.com</b></div>
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-25299397104613659932019-03-05T07:02:00.001-08:002019-03-05T07:02:22.862-08:00Call Center / OSP License - Legal Consultants
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<span style="font-family: "times" , "times new roman" , serif;"><span style="font-size: small;"><span style="line-height: 19.26px;"><b><span style="color: #cc0066;">DoT License & Compliance Advisory<span style="color: black;"><br /></span></span></b></span></span></span></div>
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<b style="font-family: times, "times new roman", serif; font-size: large;">Email: ask@osplicense.com</b></div>
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-63304843332773149022019-02-20T22:43:00.000-08:002019-02-20T22:43:16.207-08:00How to Draw Network Diagram for OSP License?
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It has been observed that most of OSP applications has been rejected because of incorrect network diagram. Contact us for new or rejected cases.
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<b style="font-family: times, "times new roman", serif; font-size: large;">Email: ask@osplicense.com</b></div>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-65657627825475283822018-11-02T07:19:00.001-07:002018-11-02T07:19:42.011-07:00Funds received from NRI (OCI card holders) will be treated as domestic or foreign funds?
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<span style="font-family: "trebuchet ms" , sans-serif;"> Is fund received from NRI (OCI card holders) will be treated as domestic or foreign fund?</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><b>Answer: </b>It can be either of one and depends on following two points.</span></div>
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<b><span style="font-family: "trebuchet ms" , sans-serif;">Repatriable Investments (Foreign):</span></b></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Such investments are made through money in Non-resident external (NRE) accounts or FCNR accounts. These type of accounts are funded by money remitted from abroad. Redemption proceeds of such investments can be repatriated.</span></div>
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<img alt="Image result for ozg fema" height="640" src="https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcS1_JZlkaTH2A_SmwH4C5C5VXkWOnxzd7MmAw4MEBTzldY5ACTVMA" width="640" /></div>
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<b><span style="font-family: "trebuchet ms" , sans-serif;">Non-repatriable Investments (Domestic):</span></b></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">If the mutual fund investment was made through Non-resident ordinary account, the redemption proceeds can not be repatriated. However, as per RBI, authorised dealers can allow remittance/s upto USD 1 million, of balances in NRO accounts/of sale proceeds of assets on production of an undertaking by the remitter together with a certificate issued by a Chartered Accountant in Annexure A and B as prescribed by the Central Board of Direct axes (CBDT).</span></div>
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<span style="font-family: Trebuchet MS, sans-serif; font-size: x-large;"><b>Ozg FEMA Experts</b></span><br />
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<span style="font-size: medium;"><a href="http://fema.ozg.in/"><span style="font-family: Verdana, sans-serif; font-size: x-large;">http://fema.ozg.in</span></a></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: large;"><span style="color: #cc0000;">Email: </span><span style="color: #1d2129;">ask@fema.in</span></span></div>
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-85274412510512076572018-10-31T02:33:00.001-07:002018-10-31T02:33:54.421-07:00How to register a Venture Capital Fund?
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The Applicant for grant of registration as a Venture Capital Fund under SEBI
(Venture Capital Funds) Regulations, 1996 should make an Application to SEBI in
Form A along with all the necessary documents.</span><span style="color: black; font-size: 13.5pt;"><o:p></o:p></span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;"><br /></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">Generally
on receipt of Application, the applicant will receive a reply from
SEBI within 21 working days. The time taken for registration however,
depends on how fast the requirements are complied with by the applicant.</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;"><br /></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">The
applicant is advised to go through the SEBI (Venture Capital Funds)
Regulations, 1996 for checking the eligibility criteria and such other details
which may help expedite the registration process. As an integral part of the
registration process, the applicant will submit:</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;"><br /></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">Form
A along with the Application fees of Rs.1,00,000 and documents as under:</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 42.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -24.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">a) </span><span style="color: #333333;">Copy of <span style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">Memorandum
and Articles of Association in case the applicant is set up in the form of a
Company (Reg. 4(a) )</span></span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 42.0pt; margin-right: 0cm; margin-top: 0cm; text-align: center; text-indent: -24.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><i><span style="color: #333333;">or</span></i><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 42.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -24.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">Copy
of Registered Trust Deed in case the applicant is set up in the form of a trust
(Reg. 4(b) )</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 42.0pt; margin-right: 0cm; margin-top: 0cm; text-align: center; text-indent: -24.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><i><span style="color: #333333;">or</span></i><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 42.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -24.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">Copy
of Main objective of constitution in case the applicant is set up in
the form of a body corporate. (Reg 4(c) )</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 24.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -6.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">b) Copy
of Investment Management Agreement (only if applicable).</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">Apart
from the above documents/declarations as required under the Form A, the
applicant will also be required to submit the details/information as under:</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;"><br /></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333;">Details of the Sponsor/Settlor.</span></b><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333;"><br /></span></b></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 42.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -24.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">2.1
Write up on the activities of the Sponsor/Settlor, its shareholding
pattern/profile of the directors. Incase of an individual, please state whether
the individual is a director/employee of any entity registered with SEBI.</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 42.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -24.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">2.2
State whether, the Sponsor/Settlor has floated venture capital funds
previously, which are registered with SEBI. If so details. Also state </span><span lang="EN-GB" style="color: #333333; letter-spacing: -0.15pt;">whether the<span style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">y (Sponsor or their directors)
were refused a certificate by the Board or its certificate has been suspended
under regulation 30 or cancelled under regulation 31. </span></span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 42.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -24.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">2.3
State whether the Sponsor/Settlor is registered with SEBI, RBI or any other
regulatory authority in any capacity along with the details of its
registration.</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">2.4 State
whether any of its group companies are registered with SEBI, RBI or any
regulatory authority along with the details of its registration.</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">2.5 State
whether Sponsor/Settlor or its holding company is listed on any of the
recognized stock exchanges in India. If so details thereof.</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">2.6 State
whether the Sponsor/Settlor or its directors are involved in any litigation
connected with the securities market and any order passed against them for
violation of securities laws. If so, details.</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;"><br /></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333;">3. Details of the Trustees/Trustee Company</span></b><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333;"><br /></span></b></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 30.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">3.1 Write
up on the activities of the Trustee Company/ Profile of Trustees.</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;"><br /></span></span>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;"> 3.2 Shareholding
pattern and the write up on profile of the Directors</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -23.75pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">3.3 State
whether the Trustee Company is registered with SEBI, RBI or any other
regulatory authority in any capacity along with the details of its
registration.</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;"><br /></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333;">4.</span></b><span style="border: 1pt none; color: #333333; padding: 0cm;"> </span><b><span style="color: #333333;">Details of the Investment Manager/Investment
Advisor/Asset Management Company (AMC).</span></b><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 42.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -24.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">4.1 Write
up on the activities of the Investment Manager/Investment Advisor/AMC.</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 42.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -24.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">4.2</span><span style="border: 1pt none; color: #333333; font-size: 7pt; padding: 0cm;"> </span><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"> </span><span style="border: 1pt none; color: #333333; padding: 0cm;">Shareholding
pattern along with the profile of the Directors.</span><span style="color: #333333; font-size: 13.5pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 42.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -24.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">4.3</span><span style="border: 1pt none; color: #333333; font-size: 7pt; padding: 0cm;"> </span><span style="border: 1pt none; color: #333333; padding: 0cm;">State whether the Investment
Manager/Advisor/AMC is registered with SEBI, RBI or any other regulatory
authority in any capacity, along with the details.</span><span style="color: #333333; font-size: 13.5pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 42.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -24.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">4.4</span><span style="border: 1pt none; color: #333333; font-size: 7pt; padding: 0cm;"> </span><span style="border: 1pt none; color: #333333; padding: 0cm;">Details of Key Personnel/Management
Team. Also state whether they are also the employees of any SEBI registered
entity. If so details.</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;"><br /></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333;">5</span></b><span style="border: 1pt none; color: #333333; padding: 0cm;">. State
whether, the applicant is registered with SEBI in any capacity or has applied
for registration in any other capacity with SEBI.</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;"><br /></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333;">6</span></b><span style="border: 1pt none; color: #333333; padding: 0cm;">. List of all the
associates registered with SEBI along with their Registration No. Please, refer
to Reg. 2(aa</span><span style="color: #333333;">) of<span style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;"> SEBI (Venture Capital Funds) Regulations, 1996 for the
definition of the “associate company”.</span></span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333;">7. Investment Strategy :</span></b><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify;">
<ol>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Disclose in detail
the investment strategy of the fund (Reg. 12 (a)).</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Investment strategy
should disclose the investment style or pattern, preferred sectors/industries
for investment, proposed corpus, the class of investors, life cycle of the fund
and any other information.</span></li>
</ol>
</div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;"><br /></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333;">8. Declarations to be submitted by the applicant:</span></b><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 30.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -24.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">8.1</span><span style="border: 1pt none; color: red; padding: 0cm;"> </span><span style="border: 1pt none; color: #333333; padding: 0cm;">An undertaking under Regulation 11(3) of SEBI
(Venture Capital Funds) Regulations, 1996.</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 30.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -24.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">8.2
Undertaking under Third Schedule to SEBI (Venture Capital Funds) Regulations,
1996.</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 30.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -24.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">8.3 Declaration
in respect of “</span><b><span style="color: #333333;">Fit and Proper Person</span></b><span style="border: 1pt none; color: #333333; padding: 0cm;">”
criteria as per regulation 4 A of the SEBI (Venture Capital Funds) Regulation.
1996 and as specified under <a href="https://www.sebi.gov.in/vc/schedule2.pdf"><span style="border: none; color: #030303;"><span style="border: none;">Schedule II</span></span></a> of
the Securities and Exchange Board of India (Intermediaries) Regulation 2008.</span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;"><br /></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; mso-outline-level: 4; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #154063; font-size: large; padding: 0cm;">Grant of Certificate of Registration</span><span style="color: #154063; font-size: 10.5pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 15.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;"><br /></span></span>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;">Once
all requirements including the Fit and Proper Person criteria have been
complied with and on intimation from SEBI for payment of </span><span style="color: #333333;">Registration fees of Rs.5,00,000 as
per Second Schedule to Regulations<span style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;">, SEBI will grant the
applicant, certification of registration as a SEBI Registered Venture Capital
Fund.</span></span><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333;">Please note the following::</span></b><span style="color: #333333; font-size: 10pt;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<br />
<span style="text-indent: -18pt;"></span><br />
<ul><span style="text-indent: -18pt;">
</span></ul>
<i style="font-family: "trebuchet ms", sans-serif; text-indent: -18pt;"><span style="color: #333333;">“The applicant” means the entity
seeking registration as a Venture Capital Fund</span></i><br />
<ul><span style="text-indent: -18pt;">
</span></ul>
<i style="font-family: "trebuchet ms", sans-serif; text-indent: -18pt;"><span style="color: #333333;">Application which is incomplete or
without the necessary documents/ information/declarations would not be accepted
and would be treated as not filed. However, an intimation to this effect will
be addressed to the applicant within a reasonable period of time</span></i><br />
<ul><span style="text-indent: -18pt;">
</span></ul>
<i style="font-family: "trebuchet ms", sans-serif; text-indent: -18pt;"><span style="color: #333333;">Applications involving policy decisions or other considerations, might
get delayed in processing and in getting registration approvals.</span></i><br />
<ul><span style="text-indent: -18pt;">
</span></ul>
<i style="font-family: "trebuchet ms", sans-serif; text-indent: -18pt;"><span style="color: #333333;">Documents/annexures submitted along with the application need to be
numbered and duly signed.</span></i><br />
<ul><span style="text-indent: -18pt;">
</span></ul>
<i style="font-family: "trebuchet ms", sans-serif; text-indent: -18pt;"><span style="color: #333333;">In case of an
Authorized signatory, please submit an authorization letter from the Directors
of the Fund.</span></i><br />
<ul><span style="text-indent: -18pt;">
</span></ul>
<span style="text-indent: -18pt;">
</span>
<br />
<ol>
</ol>
</div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><span style="color: #333333; font-size: 10pt;"><!--</span><i><span style="color: rgb(51, 51, 51);">The application in Form A along with
all the necessary information as enumerated above will be addressed to The
DGM, Division of Funds-Venture Capital, Investment Management Department, and
forwarded to our T&A Division, SEBI Plot No. C4-A, “G’ Block, Bandra Kurla
Complex, Bandra (East), Mumbai – 400051. Such applications will be submitted
along with the demand draft of Rs.1,00,000 towards application fees paid in
favour of SEBI, Mumbai.</span></i><span style="font-size: 10pt; color: rgb(51, 51, 51);"><o:p></o:p></span></font></p>
<p class="MsoNormal" align="center" style="margin-bottom:0cm;margin-bottom:.0001pt;
text-align:center;line-height:normal;background:white">
<font face="Trebuchet MS, sans-serif"><i><span style="font-size: 13.5pt; color: rgb(51, 51, 51);">---------------------------X----------------------------</span></i><span style="font-size: 13.5pt; color: black; border: 1pt none windowtext; padding: 0cm;"><o:p></o:p></span></font></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal">
<font face="Trebuchet MS, sans-serif"><span style="color: rgb(51, 51, 51); border: 1pt none windowtext; padding: 0cm;"><br style="mso-special-character:line-break">
<!--[if !supportLineBreakNewLine]--><br style="mso-special-character: line-break;" />
<!--[endif]--></span><span style="border: 1pt none windowtext; font-size: 12pt; padding: 0cm;"><o:p></o:p></span></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;"><br style="mso-special-character: line-break;" /></span></span>
<span style="color: #333333; font-family: "trebuchet ms" , sans-serif;"><br /></span>
<br />
<div style="text-align: center;">
<span style="color: #333333; font-family: "trebuchet ms" , sans-serif; font-size: large;">Venture Capital Fund Registration Procedure</span></div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;"></span></span><br />
<div style="text-align: center;">
<span style="color: #333333; font-family: "trebuchet ms" , sans-serif; font-size: xx-small;">SEBI Compliance Lawyers | Startup License | Trademark Attorney</span></div>
<div>
<br /></div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; padding: 0cm;"><br /></span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none windowtext; font-size: 12pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">FIRST SCHEDULE – FORMS</span></b><b><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;"> </span></b><b><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></b></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;"><br style="mso-special-character: line-break;" />
<!--[if !supportLineBreakNewLine]--><br style="mso-special-character: line-break;" />
<!--[endif]--></span></b><b><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></b></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">FORM A</span></b><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;"> <o:p></o:p></span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><a href="https://www.blogger.com/null" name="forma"><b><span style="color: #333333; font-size: 10.5pt;">SECURITIES AND
EXCHANGE BOARD OF INDIA</span></b></a><span style="mso-bookmark: forma;"><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;"> </span></span><span style="mso-bookmark: forma;"><span style="border: 1pt none; color: #030303; font-size: 10.5pt; padding: 0cm;"><o:p></o:p></span></span></span></div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="mso-bookmark: forma;"></span>
</span><br />
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">(VENTURE CAPITAL FUNDS) REGULATIONS,
1996</span></b><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;"> <o:p></o:p></span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">(SEE REGULATION 3)</span></b><b><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;"><o:p></o:p></span></b></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="font-size: 10.5pt;">APPLICATION FOR GRANT OF CERTIFICATE OF
REGISTRATION</span></b><span style="border: 1pt none windowtext; font-size: 10.5pt; padding: 0cm;"> </span><span style="border: 1pt none windowtext; font-size: 12pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="font-size: 10.5pt;">AS VENTURE CAPITAL FUND</span></b><span style="border: 1pt none windowtext; font-size: 10.5pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="font-size: 10.5pt;">SECURITIES AND EXCHANGE BOARD OF INDIA</span></b><span style="border: 1pt none windowtext; font-size: 10.5pt; padding: 0cm;"> </span><span style="border: 1pt none windowtext; font-size: 12pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b>Plot No.
C4-A, “G’ BLOCK, BANDRA KURLA COMPLEX,</b><b><span style="border: 1pt none windowtext; font-size: 12pt; padding: 0cm;"><o:p></o:p></span></b></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b>BANDRA
(EAST), MUMBAI – 400051 </b><span style="border: 1pt none windowtext; font-size: 12pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
</div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="border: 1pt none windowtext; font-size: 10.5pt; padding: 0cm;"><br style="mso-special-character: line-break;" />
<!--[if !supportLineBreakNewLine]--><br style="mso-special-character: line-break;" />
<!--[endif]--></span></b><b><span style="border: 1pt none windowtext; font-size: 12pt; padding: 0cm;"><o:p></o:p></span></b></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="border: 1pt none windowtext; font-size: 10.5pt; padding: 0cm;"><br style="mso-special-character: line-break;" />
<!--[if !supportLineBreakNewLine]--><br style="mso-special-character: line-break;" />
<!--[endif]--></span></b><b><span style="border: 1pt none windowtext; font-size: 12pt; padding: 0cm;"><o:p></o:p></span></b></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">INSTRUCTIONS:</span></b><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;">i. This form is meant for use by
the company or trust (hereinafter referred to as the applicant) for application
for grant of certificate of registration as venture capital fund.</span><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;">ii. The applicant should complete
this form, and submit it, along with all supporting documents to the Board at
its head office at Mumbai.</span><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;">iii. This application
form should be filled in accordance with these regulations.</span><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;">iv. The application shall be
considered by the Board provided it is complete in all respects.</span><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;">v. All answers must
be legible.</span><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;">vi. Information which needs to be
supplied in more detail may be given on separate sheets which should be
attached to the application form.</span><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;">vii. The application must be
signed and all signatures must be original.</span><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;">viii. The application must be accompanied by
an application fee as specified the Second Schedule to these regulations.</span><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">1.</span></b><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;"> </span><b><span style="color: #333333; font-size: 10.5pt;">Name, address of the registered office, address for correspondence,
telephone number(s), fax number(s), telex number(s) of the applicant and the
name of the contact person</span></b><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;">.</span><span style="border: 1pt none; color: #333333; font-size: 7.5pt; padding: 0cm;"> </span><span style="border: 1pt none; color: #333333; font-size: 13.5pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">2.
Please indicate to which of the following categories the applicant belongs.</span></b><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">(i) a company established under the
Companies Act, 1956 (1 of 1956)</span></b><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">(ii) a trust set up
under the Indian Trusts Act, 1882 (2 of 1882)</span></b><span style="border: 1pt none; color: #333333; font-size: 7pt; padding: 0cm;"> </span><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">3.
Date and place of incorporation or establishment and date of commencement of
business (enclose certificate of incorporation, memorandum and articles of
association or trust deed in terms of which incorporated or established).</span></b><span style="border: 1pt none; color: #333333; font-size: 7pt; padding: 0cm;"> </span><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">4. (a) Details of
members of the Board of Trustees or directors of the trustee company, as the
case may be, in case the applicant has been set up as a trust.</span></b><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">(b) Details of
members of the Board of Directors of the venture capital fund in case the
applicant has been set up as a company.</span></b><span style="border: 1pt none; color: #333333; font-size: 7pt; padding: 0cm;"> </span><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">5.
Please state whether the applicant, his partner, director or principal officer
is involved in any litigation connected with the securities market which has an
adverse bearing on the business of the applicant; or has at any time been
convicted for any moral turpitude or at any time has been found guilty of any
economic offence. In case the applicant is a trust, the above information
should be provided for the members of the Board of Trustees or of the above
mentioned persons connected with the Trustee Company.</span></b><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">If yes, the details
thereof</span></b><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;">.</span><span style="border: 1pt none; color: #333333; font-size: 7pt; padding: 0cm;"> </span><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">6. Please
also state whether there has been any instance of violation or non-adherence to
the securities laws, code of ethics/conduct, code of business rules, for which
the applicant, or its parent or holding company or affiliate may have been
subject to economic, or criminal, liability, or suspended from carrying out its
operations, or the registration revoked temporarily.</span></b><span style="border: 1pt none; color: #333333; font-size: 7pt; padding: 0cm;"> </span><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><!--[endif]--></span><b><span style="color: #333333; font-size: 10.5pt;"> </span></b><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">7. Details
of asset management company, if any. (enclose copy of agreement with the asset
management company).</span></b><b><span style="color: #333333; font-size: 7.5pt;"> </span></b><span style="border: 1pt none; color: #333333; font-size: 13.5pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-indent: -18.0pt;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">8. Declaration
statement (to be given as below). </span></b><b><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;"><br />
</span></b><b><span style="color: #333333; font-size: 10.5pt;">We hereby agree and declare that the
information supplied in the application, including the attachment sheets, is
complete and true.</span></b><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">AND we further agree that, we shall
notify the Securities and Exchange Board of India immediately any
change in the information provided in the application.</span></b><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">We further agree that we shall comply
with, and be bound by the Securities and Exchange Board ofIndia Act, 1992,
and the Securities and Exchange Board of India (Venture Capital Fund)
Regulations, 1996, and Government of India guidelines / instructions
as may be announced by the Securities and Exchange Board
of India from time to time.</span></b><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">We further agree that as a condition
of registration, we shall abide by such operational instructions/directives as
may be issued by the Securities and Exchange Board of India from time
to time. </span></b><b><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;"><br />
</span></b><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;"> </span><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">For and on behalf
of................................... </span></b><b><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;"><br />
</span></b><b><span style="color: #333333; font-size: 10.5pt;">(Name of the applicant)</span></b><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">Authorised signatory
..................
................ </span></b><b><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;"><br />
</span></b><b><span style="color: #333333; font-size: 10.5pt;">
(Name)
(Signature)</span></b><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 18.0pt; margin-right: 0cm; margin-top: 0cm; text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="color: #333333; font-size: 10.5pt;">Date: </span></b><b><span style="border: 1pt none; color: #333333; font-size: 10.5pt; padding: 0cm;"><br />
</span></b><b><span style="color: #333333; font-size: 10.5pt;">Place:</span></b><span style="border: 1pt none; color: #333333; font-size: 10pt; padding: 0cm;"><o:p></o:p></span></span></div>
<div class="MsoNormal">
<br /></div>
<div style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;"><b style="mso-bidi-font-weight: normal;"><span style="border: 1pt none; color: #0b5394; font-size: 18pt; padding: 0cm;">VC Registration & Compliance</span></b></span></div>
<div style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="border: 1pt none; padding: 0cm;"><span style="color: #cccccc;"><span style="border: 1pt none; font-size: 8pt; padding: 0cm;">Ozg Lawyers </span><span style="border: 1pt none; font-size: 8pt; padding: 0cm;">Ⓥ </span><span style="border: 1pt none; font-size: 8pt; padding: 0cm;">Ozg Lawyers </span><span style="border: 1pt none; font-size: 8pt; padding: 0cm;">Ⓥ </span><span style="border: 1pt none; font-size: 8pt; padding: 0cm;">Ozg Lawyers </span><span style="border: 1pt none; font-size: 8pt; padding: 0cm;">Ⓥ </span><span style="border: 1pt none; font-size: 8pt; padding: 0cm;">Ozg Lawyers </span></span></span></span></div>
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-64199925370326805232018-10-20T23:11:00.001-07:002018-10-20T23:11:58.163-07:00 Bail Format in India - Law & Practice - Ozg Lawyers
<br />
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Baill Laws in India are described under Section 437, 438, 439
of Code of Criminal Procedure, 1973. A brief description of the aforesaid
sections is given hereunder for ready reference:<o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Section 437 of Code of Criminal Procedure, 1973 contemplates
that any person arrested or detained in a non-bail able offence, the Court
other than Sessions Court may grant him bail.<o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Section 438 of Code of Criminal Procedure, 1973 contemplates
that the Session Court or the High Court may grant anticipatory bail to a
person apprehending arrest.<o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Section 439 of Code of Criminal Procedure, 1973 contemplates
that the Sessions Court or the High Court can grant bail to a person who has
been arrested.<o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Bail laws in India are very complicated as the bail to any
accused person is at the discretion of the court which considers the facts of
the case, the conduct of the accused, the background of the accused, the law
and several other factors. The role of a lawyer in getting bail from the court
becomes very important as the accused can be confined to judicial custody if
the case is not properly presented and contested before the court by a
competent lawyer.<o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span>
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="mso-bidi-font-weight: normal;"><span style="color: #002060; font-size: 12pt; line-height: 115%;"><b>Request a FREE Callback from a Bail Expert at Ozg Lawyers @</b></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #e36c0a; font-size: 12.0pt; line-height: 115%;"> <a href="http://bail.ozg.in/">bail.ozg.in</a><o:p></o:p></span></b><br />
<b style="mso-bidi-font-weight: normal;"><br /></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;">BAIL FORMAT INDIA UNDER
SECTION 437 OF CODE OF CRIMINAL PROCEDURE<o:p></o:p></span></b><br />
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">BEFORE THE COURT OF METROPOLITAN MAGISTRATE, AT (give the
name of the police station or the Illaka Magistrate where the bail application
is being filed)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">IN THE MATTER OF<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">STATE<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">VS<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">(Mention the name of the applicant)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">FIR Number: (Mention the FIR number)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Under Section: (Mention the sections under which the FIR has
been filed)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Police Station: (Mention the name of the Police Station)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Accused under custody since: (Give the date on which accused
has been arrested)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br />
<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="mso-bidi-font-weight: normal;"><span style="color: #002060; font-size: 12pt; line-height: 18.4px;"><b>Request a FREE Callback from a Bail Expert at Ozg Lawyers @</b></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #e36c0a; font-size: 12pt; line-height: 18.4px;"> <a href="http://bail.ozg.in/">bail.ozg.in</a></span></b><br />
<b style="mso-bidi-font-weight: normal;"><br /></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;">APPLICATION UNDER
SECTION 437 CRPC FOR GRANT OF BAIL ON BEHALF OF THE ACCUSED (name of the
applicant of the bail along with his fathers name, address and other details)<o:p></o:p></span></b><br />
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;"><br /></span></b>
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">MOST RESPECTFULLY SUBMITTED AS UNDER:<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">1. That the present FIR has been registered on false and
bogus facts. The facts stated in the FIR are fabricated, concocted and without
any basis.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">2. That the police has falsely implicated the applicant and
arrested him in the present case, the applicant is a respectable citizen of the
society and is not involved any criminal case.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">3. That the facts stated in the complainant against the
applicant are civil disputes and does not constitute any criminal offence at
all.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">4. That the applicant is not required in any kind of
investigation nor any kind of custodial interrogation is required, nor any
recovery is to be made at the instance of the applicant.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">5. That the applicant is having very good antecedents, he
belongs to good family and there is no criminal case pending against them.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">6. That the applicant is a permanent resident and there are
no chances of his absconding from the course of justice.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">7. That the applicant undertakes to present himself before
the police/court as and when directed.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">8. That the applicant undertakes that he will not, directly
or indirectly make any inducement, threat or promise to any person acquainted
with the facts of the case so as to dissuade him from disclosing such facts to
the Court or to any police officer.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">9. That the applicant further undertakes not to tamper with
the evidence or the witnesses in any manner.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">10. That the applicant shall not leave India without the
previous permission of the Court.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">11. That the applicant is ready and willing to accept any
other conditions as may be imposed by the Court or the police in connection
with the case.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">PRAYER<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">It is therefore prayed that the court may order for the
release of the applicant on bail in the interest of justice.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Any other order which the court may deem fit and proper in
the facts and circumstances of the case may be also passed in favor of the
applicant.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">APPLICANT<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">THROUGH<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">COUNSEL<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br />
<br />
<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="mso-bidi-font-weight: normal;"><span style="color: #002060; font-size: 12pt; line-height: 18.4px;"><b>Request a FREE Callback from a Bail Expert at Ozg Lawyers @</b></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #e36c0a; font-size: 12pt; line-height: 18.4px;"> <a href="http://bail.ozg.in/">bail.ozg.in</a></span></b><br />
<b style="mso-bidi-font-weight: normal;"><br /></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;">IMPORTANT TIPS FOR
FILING OF BAIL FORMAT INDIA UNDER SECTION 437 OF THE CODE OF CRIMINAL
PROCEDURE:<o:p></o:p></span></b><br />
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">The bail format India under Section 437 of the Code of
Criminal Procedure is filed before the court of the concerned Magistrate first
who is also called the Ilaka Magistrate.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">The bail format India under Section 437 of the Code of
Criminal Procedure is filed after the arrest of the accused by the police.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">The bail format India under Section 437 of Code of Criminal
Procedure can be filed by any close relative or Parokar on behalf of the
accused if the bail application is being moved when the accused is not before
the Court.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">The bail format India is also to be signed by the Counsel who
is filing the bail format India either through his memo of appearance or power of
attorney.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">No court fee is to be paid on the bail format India when the
accused is in custody.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">The details of the FIR, name of the accused, fathers name of
the accused should be properly mentioned in the bail format India so that the
Jail authorities are able to identify him properly after the release order from
the Court.<o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span>
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="mso-bidi-font-weight: normal;"><span style="color: #002060; font-size: 12pt; line-height: 18.4px;"><b>Request a FREE Callback from a Bail Expert at Ozg Lawyers @</b></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #e36c0a; font-size: 12pt; line-height: 18.4px;"> <a href="http://bail.ozg.in/">bail.ozg.in</a></span></b><br />
<b style="mso-bidi-font-weight: normal;"><br /></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;">BAIL FORMAT INDIA UNDER
SECTION 438 OF THE CODE OF CRIMINAL PROCEDURE FOR ANTICIPATORY BEFORE THE
SESSIONS COURT<o:p></o:p></span></b><br />
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">BEFORE THE DISTRICT AND SESSIONS JUDGE COURT AT (give the
name of the District Court where the anticipatory bail application format India
is being filed)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">IN THE MATTER OF<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">STATE<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">VS<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">(Mention the name of the accused)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">FIR Number: (Mention the FIR number)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Under Section: (Mention the sections under which the FIR has
been filed)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Police Station: (Mention the name of the Police Station)<o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span>
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;">APPLICATION U/S 438
CRPC FOR GRANT OF ANTICIPATORY BAIL ON BEHALF OF THE ACCUSED</span></b><span style="font-size: 12.0pt; line-height: 115%;"> (name of the applicant of the bail)<o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span>
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">MOST RESPECTFULLY SUBMITTED AS UNDER:<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">1. That the present FIR has been registered on false and
bogus facts. The facts stated in the FIR are fabricated, concocted and without
any basis.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">2. That the police has falsely implicated the applicant in
the present case, the applicant is a respectable citizen of the society and is
not involved any criminal case.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">3. That the facts stated in the complainant against the
applicant are civil disputes and does not constitute any criminal offence at
all.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">4. That the applicant is not required in any kind of
investigation nor any kind of custodial interrogation is required.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">5. That the applicant is having very good antecedents, he
belongs to good family and there is no criminal case pending against them.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">6. That the applicant is a permanent resident and there are
no chances of his absconding from the course of justice.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">7. That the applicant undertakes to present himself before
the police/court as and when directed.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">8. That the applicant undertakes that he will not, directly
or indirectly make any inducement, threat or promise to any person acquainted
with the facts of the case so as to dissuade him from disclosing such facts to
the Court or to any police officer.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">9. That the applicant further undertakes not to tamper with
the evidence or the witnesses in any manner.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">10. That the applicant shall not leave India without the
previous permission of the Court.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">11. That the applicant is ready and willing to accept any
other conditions as may be imposed by the Court or the police in connection
with the case.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">12. That the Court below has failed to consider all the facts
and circumstances of the case and has wrongly dismissed the anticipatory bail
application.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">It is therefore prayed that the court may direct the release
the applicant on bail in the event of his arrest by the police.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Any other order which the court may deem fit and proper in
the facts and circumstances of the case may be also passed in favor of the
applicant.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">APPLICANT<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">THROUGH<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">COUNSEL<o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span>
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="mso-bidi-font-weight: normal;"><span style="color: #002060; font-size: 12pt; line-height: 18.4px;"><b>Request a FREE Callback from a Bail Expert at Ozg Lawyers @</b></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #e36c0a; font-size: 12pt; line-height: 18.4px;"> <a href="http://bail.ozg.in/">bail.ozg.in</a></span></b><br />
<b style="mso-bidi-font-weight: normal;"><br /></b>
<b style="mso-bidi-font-weight: normal;"><br /></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;">IMPORTANT TIPS FOR
FILING OF BAIL FORMAT INDIA UNDER SECTION 438 OF THE CODE OF CRIMINAL
PROCEDURE:<o:p></o:p></span></b><br />
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">The bail format India under Section 438 of the Code of
Criminal Procedure is filed before the Sessions Court at first.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">The bail format India under Section 438 of the Code of
Criminal Procedure is to be signed by the accused or the applicant of the bail.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">An affidavit in support of the bail format India is also to
be filed along with the main application.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">A readable copy of the FIR is also to be filed along with the
bail format India.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">All relevant documents are also to be filed along with the
bail format India by which the applicant is seeking bail from the court.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">The bail format India is also to be signed by the Counsel who
is filing the bail format India either through his memo of appearance or power
of attorney.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">The details of the FIR, name of the accused, fathers name of
the accused should be properly mentioned in the bail format India so that the
said contents are properly mentioned in the judicial records.<o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span>
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
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<b style="mso-bidi-font-weight: normal;"><br /></b>
<b style="mso-bidi-font-weight: normal;"><br /></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;">ANTICIPATORY BAIL
FORMAT INDIA UNDER SECTION 438 OF CODE OF CRIMINAL PROCEDURE TO BE FILED BEFORE
THE HIGH COURT IN THE EVENT OF THE APPLICATION FOR ANTICIPATORY BAIL BEING
DISMISSED BY THE SESSIONS COURT<o:p></o:p></span></b><br />
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;"><br /></span></b>
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">BEFORE THE HIGH COURT AT (give the name of the High Court
where the anticipatory bail application format India is being filed)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">IN THE MATTER OF<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">STATE<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">VS<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">(Mention the name of the accused)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">FIR Number: (Mention the FIR number)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Under Section: (Mention the sections under which the FIR has
been filed)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Police Station: (Mention the name of the Police Station)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;"><b><br /></b></span>
<span style="font-size: 12.0pt; line-height: 115%;"><b><br /></b></span>
<span style="font-size: 12.0pt; line-height: 115%;"><b>APPLICATION U/S 438 CRPC FOR GRANT OF ANTICIPATORY BAIL ON
BEHALF OF THE ACCUSED</b> (name of the applicant of the bail)<o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">MOST RESPECTFULLY SUBMITTED AS UNDER:<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">1. That the present FIR has been registered on false and
bogus facts. The facts stated in the FIR are fabricated, concocted and without
any basis.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">2. That the police has falsely implicated the applicant in
the present case, the applicant is a respectable citizen of the society and is
not involved any criminal case.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">3. That the facts stated in the complainant against the
applicant are civil disputes and does not constitute any criminal offence at
all.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">4. That the applicant is not required in any kind of
investigation nor any kind of custodial interrogation is required.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">5. That the applicant is having very good antecedents, he
belongs to good family and there is no criminal case pending against them.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">6. That the applicant is a permanent resident and there are
no chances of his absconding from the course of justice.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">7. That the applicant undertakes to present himself before
the police/court as and when directed.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">8. That the applicant undertakes that he will not, directly
or indirectly make any inducement, threat or promise to any person acquainted
with the facts of the case so as to dissuade him from disclosing such facts to
the Court or to any police officer.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">9. That the applicant further undertakes not to tamper with
the evidence or the witnesses in any manner.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">10. That the applicant shall not leave India without the previous
permission of the Court.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">11. That the applicant is ready and willing to accept any
other conditions as may be imposed by the Court or the police in connection
with the case.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">12. That the Court below has failed to consider all the facts
and circumstances of the case and has wrongly dismissed the anticipatory bail
application.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">It is therefore prayed that the court may direct the release
the applicant on bail in the event of his arrest by the police.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Any other order which the court may deem fit and proper in
the facts and circumstances of the case may be also passed in favor of the
applicant.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">APPLICANT<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">THROUGH<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">COUNSEL<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #002060; font-size: 12.0pt; line-height: 115%;"><br /></span></b><span style="mso-bidi-font-weight: normal;"><span style="color: #002060; font-size: 12pt; line-height: 18.4px;"><b>Request a FREE Callback from a Bail Expert at Ozg Lawyers @</b></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #e36c0a; font-size: 12pt; line-height: 18.4px;"> <a href="http://bail.ozg.in/">bail.ozg.in</a></span></b><br />
<b style="mso-bidi-font-weight: normal;"><br /></b>
<b style="mso-bidi-font-weight: normal;"><br /></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;">IMPORTANT TIPS FOR
FILING OF BAIL FORMAT INDIA UNDER SECTION 438 OF THE CODE OF CRIMINAL
PROCEDURE:<o:p></o:p></span></b><br />
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;"><br /></span></b>
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">The bail format India under Section 438 of the Code of
Criminal Procedure is to be signed by the accused or the applicant of the bail.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">An affidavit in support of the bail format India is also to
be filed along with the main application.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">A readable copy of the FIR is also to be filed along with the
bail format India.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">All relevant documents are also to be filed along with the
bail format India by which the applicant is seeking bail from the court.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">The bail format India is also to be signed by the Counsel who
is filing the bail format India either through his memo of appearance or power
of attorney.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">The details of the FIR, name of the accused, fathers name of
the accused should be properly mentioned in the bail format India so that the
said contents are properly mentioned in the judicial records.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">A certified or true copy of the order passed by the Sessions
Court be also filed along with.<o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;"><b>BAIL FORMAT INDIA UNDER SECTION 439 OF THE CODE OF CRIMINAL
PROCEDURE FOR BAIL BEFORE THE SESSIONS COURT</b><o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><b><br /></b></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">BEFORE THE DISTRICT AND SESSIONS JUDGE COURT AT (give the name
of the District Court where the bail application format India is being filed)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">IN THE MATTER OF<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">STATE<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">VS<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">(Mention the name of the accused)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">FIR Number: (Mention the FIR number)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Under Section: (Mention the sections under which the FIR has
been filed)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Police Station: (Mention the name of the Police Station)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Accused under custody since (Give the date from when the
accused is in custody)<o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span>
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="mso-bidi-font-weight: normal;"><span style="color: #002060; font-size: 12pt; line-height: 18.4px;"><b>Request a FREE Callback from a Bail Expert at Ozg Lawyers @</b></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #e36c0a; font-size: 12pt; line-height: 18.4px;"> <a href="http://bail.ozg.in/">bail.ozg.in</a></span></b><br />
<b style="mso-bidi-font-weight: normal;"><br /></b>
<b style="mso-bidi-font-weight: normal;"><br /></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;">APPLICATION U/S 439
CRPC FOR GRANT OF BAIL ON BEHALF OF THE ACCUSED </span></b><span style="font-size: 12.0pt; line-height: 115%;">(name of the applicant of the bail)<o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span>
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">MOST RESPECTFULLY SUBMITTED AS UNDER:<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">1. That the present FIR has been registered on false and
bogus facts. The facts stated in the FIR are fabricated, concocted and without
any basis.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">2. That the police has falsely implicated the applicant in
the present case, and arrested him although the applicant is a respectable
citizen of the society and is not involved any criminal case.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">3. That the facts stated in the complainant against the
applicant are civil disputes and does not constitute any criminal offence at
all.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">4. That the applicant is not required in any kind of
investigation nor any kind of custodial interrogation is required.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">5. That the applicant is having very good antecedents, he
belongs to good family and there is no criminal case pending against them.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">6. That the applicant is a permanent resident and there are
no chances of his absconding from the course of justice.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">7. That the applicant undertakes to present himself before
the police/court as and when directed.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">8. That the applicant undertakes that he will not, directly
or indirectly make any inducement, threat or promise to any person acquainted
with the facts of the case so as to dissuade him from disclosing such facts to
the Court or to any police officer.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">9. That the applicant further undertakes not to tamper with
the evidence or the witnesses in any manner.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">10. That the applicant shall not leave India without the
previous permission of the Court.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">11. That the applicant is ready and willing to accept any
other conditions as may be imposed by the Court or the police in connection
with the case.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">12. That the Court below has failed to consider all the facts
and circumstances of the case and has wrongly dismissed the bail application.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">It is therefore prayed that the court may direct the release
the applicant on bail in the interest of justice.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Any other order which the court may deem fit and proper in
the facts and circumstances of the case may be also passed in favor of the
applicant.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">APPLICANT<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">THROUGH<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">COUNSEL<o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="mso-bidi-font-weight: normal;"><span style="color: #002060; font-size: 12pt; line-height: 18.4px;"><b>Request a FREE Callback from a Bail Expert at Ozg Lawyers @</b></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #e36c0a; font-size: 12pt; line-height: 18.4px;"> <a href="http://bail.ozg.in/">bail.ozg.in</a></span></b><br />
<b style="mso-bidi-font-weight: normal;"><br /></b>
<b style="mso-bidi-font-weight: normal;"><br /></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;">IMPORTANT TIPS FOR
FILING OF BAIL FORMAT INDIA UNDER SECTION 439 OF THE CODE OF CRIMINAL
PROCEDURE:<o:p></o:p></span></b><br />
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">The bail format India under Section 439 of the Code of
Criminal Procedure can be signed by any close relative or Parokar of the
accused.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">An affidavit in support of the bail format India is also to
be filed alongwith the main application.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">A readable copy of the FIR is also to be filed alongwith the
bail format India.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">All relevant documents are also to be filed alongwith the
bail format India on the basis of which the applicant is seeking bail from the
court.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">The bail format India is also to be signed by the Counsel who
is filing the bail format India either through his memo of appearance or power
of attorney.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">The details of the FIR, name of the accused, fathers name of
the accused should be properly mentioned in the bail format India so that the
said contents are properly mentioned in the release order and the Jail
authorities are able to identify the accused properly.<o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span>
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;">BAIL FORMAT INDIA TO BE
FILED BEFORE THE HIGH COURT IN THE EVENT OF THE APPLICATION FOR BAIL BEING
DISMISSED BY THE SESSIONS COURT<o:p></o:p></span></b><br />
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;"><br /></span></b>
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 115%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">BEFORE THE HIGH COURT AT (give the name of the High Court
where the bail application format India is being filed)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">IN THE MATTER OF<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">STATE<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">VS<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">(Mention the name of the accused)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">FIR Number: (Mention the FIR number)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Under Section: (Mention the sections under which the FIR has
been filed)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Police Station: (Mention the name of the Police Station)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Accused in custody since: (Give the date since when the
accused is in custody)<o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span>
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;"><b>APPLICATION U/S 439 CRPC FOR GRANT OF ANTICIPATORY BAIL ON
BEHALF OF THE ACCUSED </b>(name of the applicant of the bail)<o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">MOST RESPECTFULLY SUBMITTED AS UNDER:<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">1. That the present FIR has been registered on false and
bogus facts. The facts stated in the FIR are fabricated, concocted and without
any basis.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">2. That the police has falsely implicated the applicant in
the present case, and has arrested him. The applicant is a respectable citizen
of the society and is not involved any criminal case.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">3. That the facts stated in the complainant against the
applicant are civil disputes and does not constitute any criminal offence at
all.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">4. That the applicant is not required in any kind of
investigation nor any kind of custodial interrogation is required.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">5. That the applicant is having very good antecedents, he
belongs to good family and there is no criminal case pending against them.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">6. That the applicant is a permanent resident and there are
no chances of his absconding from the course of justice.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">7. That the applicant undertakes to present himself before
the police/court as and when directed.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">8. That the applicant undertakes that he will not, directly
or indirectly make any inducement, threat or promise to any person acquainted
with the facts of the case so as to dissuade him from disclosing such facts to
the Court or to any police officer.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">9. That the applicant further undertakes not to tamper with
the evidence or the witnesses in any manner.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">10. That the applicant shall not leave India without the
previous permission of the Court.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">11. That the applicant is ready and willing to accept any
other conditions as may be imposed by the Court or the police in connection
with the case.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">12. That the Court below has failed to consider all the facts
and circumstances of the case and has wrongly dismissed the bail application.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">It is therefore prayed that the court may direct the release
the applicant on bail in the interest of justice.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">Any other order which the court may deem fit and proper in
the facts and circumstances of the case may be also passed in favor of the
applicant.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">APPLICANT<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">THROUGH<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">COUNSEL<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #002060; font-size: 12.0pt; line-height: 115%;"><br /></span></b><span style="mso-bidi-font-weight: normal;"><span style="color: #002060; font-size: 12pt; line-height: 18.4px;"><b>Request a FREE Callback from a Bail Expert at Ozg Lawyers @</b></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: #e36c0a; font-size: 12pt; line-height: 18.4px;"> <a href="http://bail.ozg.in/">bail.ozg.in</a></span></b><br />
<b style="mso-bidi-font-weight: normal;"><br /></b>
<b style="mso-bidi-font-weight: normal;"><br /></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">[succ]<b style="mso-bidi-font-weight: normal;">IMPORTANT TIPS
FOR FILING OF BAIL FORMAT INDIA UNDER SECTION 439 OF THE CODE OF CRIMINAL
PROCEDURE:</b><o:p></o:p></span><br />
<span style="font-size: 12.0pt; line-height: 115%;"><b style="mso-bidi-font-weight: normal;"><br /></b></span>
<span style="font-size: 12.0pt; line-height: 115%;"><b style="mso-bidi-font-weight: normal;"><br /></b></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">The bail format India under Section 439 of the Code of
Criminal Procedure can be signed by any close relative or Parokar of the
accused.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">An affidavit in support of the bail format India is also to
be filed along with the main application.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">A readable copy of the FIR is also to be filed along with the
bail format India.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">All relevant documents are also to be filed along with the
bail format India by which the applicant is seeking bail from the court.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">The bail format India is also to be signed by the Counsel who
is filing the bail format India either through his memo of appearance or power
of attorney.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">The details of the FIR, name of the accused, fathers name of
the accused should be properly mentioned in the bail format India so that the
said contents are properly mentioned in the release order, and the Jail
authorities can identify the accused properly.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 12.0pt; line-height: 115%;">A certified copy or true copy of the order passed by the
Court of Session is to be filed along with with the bail format India.<o:p></o:p></span></div>
<br />Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-90570568863885454052018-10-16T22:56:00.002-07:002018-10-16T22:56:15.111-07:00P2P NBFC (Lending Platform) Application Procedure - RBI License & Compliance
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<table class="tablebg" style="border-collapse: collapse; border: 1px solid rgb(247, 232, 213); color: black; font-family: Arial, Helvetica, sans-serif; font-size: 13px !important; width: 100%px;"><tbody>
<tr style="height: auto !important;"><td align="center" class="tableheader" style="background-color: rgb(247, 232, 213) !important; border: 1px solid rgb(239, 209, 170); font-weight: bold; height: auto !important; padding-left: 3px; padding-right: 3px;"><b>Master Directions - Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017 (Updated as on February 23, 2018)</b></td></tr>
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<tr style="height: auto !important;"><td style="border: medium none; height: auto; padding-left: 3px; padding-right: 3px;"><div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
RBI/DNBR/2017-18/57<br />
Master Direction DNBR (PD) 090/03.10.124/2017-18</div>
<div align="right" class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
October 04, 2017<br />
(<span style="color: brown;">Updated as on February 23, 2018</span>)<br />
(<span style="color: green;">Updated as on November 09, 2017</span>)</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
Master Directions - Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017</div>
<div style="font-size: 13px; margin: 5px;">
The Reserve Bank of India, (hereinafter referred to as “the Bank”) issued a Notification No DNBR.045/CGM (CDS)-2017 dated August 24, 2017 in terms of sub-clause (iii) of clause(f) of section 45I of the Reserve Bank of India Act, 1934 (hereinafter referred to as “the Act”) and on being satisfied that it is necessary to do so, in exercise of the powers conferred under section 45IA, 45JA, 45L,and 45M of the Act, and of all the powers enabling it in this behalf, hereby issues these Directions for compliance of the same by every Non-Banking Financial Company that carries on the business of a Peer to Peer Lending Platform.</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
1. Short title and commencement of the Directions:</div>
<div style="font-size: 13px; margin: 5px;">
(1) These Directions shall be known as the Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017.</div>
<div style="font-size: 13px; margin: 5px;">
(2) These Directions shall come into force with immediate effect.</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
2. Applicability of the Directions</div>
<div style="font-size: 13px; margin: 5px;">
These Directions shall apply to every Non-Banking Financial Company- Peer to Peer Lending Platform (NBFC-P2P) as defined in these Directions.</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
3. Scope</div>
<div style="font-size: 13px; margin: 5px;">
These Directions provide a framework for the registration and operation of NBFC-P2Ps in India.</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
4. Definitions</div>
<div style="font-size: 13px; margin: 5px;">
(1) In these Directions, unless the context otherwise requires, the terms used herein shall bear the meanings assigned to them below —</div>
<ol style="font-size: 13px; margin: 1em 0px; padding: 0px 0px 0px 65px;" type="i">
<li><div style="margin: 5px !important;">
“Company” means a company as defined in clause (20) of section 2 of the Companies Act, 2013;</div>
</li>
<li><div style="margin: 5px !important;">
“Leverage Ratio” means the Total Outside Liabilities divided by Owned Funds, of the NBFC-P2P.</div>
</li>
<li><div style="margin: 5px !important;">
“Non-performing asset” (NPA) means a loan where interest and/ or installment of principal remain overdue for a period of 90 days or more.</div>
</li>
<li><div style="margin: 5px !important;">
“Participant” means a person who has entered into an arrangement with an NBFC-P2P to lend on it or to avail of loan facilitation services provided by it;</div>
</li>
<li><div style="margin: 5px !important;">
”Peer to Peer Lending Platform” means an intermediary providing the services of loan facilitation via online medium or otherwise, to the participants as defined at Item (iv) of sub-paragraph (1) of paragraph 4 of these directions;</div>
</li>
<li><div style="margin: 5px !important;">
“Non-banking financial company - Peer to Peer Lending Platform” (NBFC-P2P) means a non-banking institution which carries on the business of a Peer to Peer Lending Platform.</div>
</li>
</ol>
<div style="font-size: 13px; margin: 5px;">
(2) Words or expressions used in these Directions but not defined herein and defined in the Act or in the Companies Act, 2013 shall have the same meaning as assigned to them under those Acts.<br />
<br /></div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
5. Registration<br />
<br /></div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
(1) Eligibility Criteria</div>
<div style="font-size: 13px; margin: 5px;">
(i) No non-banking institution other than a company shall undertake the business of Peer to Peer Lending Platform.</div>
<div style="font-size: 13px; margin: 5px;">
(ii) No NBFC-P2P shall commence or carry on the business of a Peer to Peer Lending Platform without obtaining a Certificate of Registration (hereinafter referred to as “CoR”) from the Bank. Provided that an entity carrying on the business of a Peer-to-Peer Lending Platform as on the effective date of these directions, can continue to do so, subject to the conditions laid down in sub-paragraph (2)(vii) in this Paragraph.</div>
<div style="font-size: 13px; margin: 5px;">
(iii) Every company seeking registration with the Bank as an NBFC-P2P shall have a net owned fund of not less than rupees twenty million or such higher amount as the Bank may specify.<br />
<br /></div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
(2) Process of Registration</div>
<div style="font-size: 13px; margin: 5px;">
(i) Every existing and prospective NBFC-P2P shall make an application for registration to the Department of Non-Banking Regulation, Mumbai of the Bank, in the form which will be specified by the Bank for the purpose. Existing NBFC-P2Ps shall apply within three months from the issuance of these Directions.</div>
<div style="font-size: 13px; margin: 5px;">
(ii) The Bank, for the purpose of considering the application for registration, shall require the following conditions, among others, to be fulfilled:</div>
<ol style="font-size: 13px; margin: 1em 0px; padding: 0px 0px 0px 65px;" type="a">
<li><div style="margin: 5px !important;">
The company is incorporated in India;</div>
</li>
<li><div style="margin: 5px !important;">
The company has the necessary technological, entrepreneurial and managerial resources to offer such services to the participants;</div>
</li>
<li><div style="margin: 5px !important;">
The company has the adequate capital structure to undertake the business of Peer to Peer Lending Platform;</div>
</li>
<li><div style="margin: 5px !important;">
The promoters and the Directors of the company are fit and proper;</div>
</li>
<li><div style="margin: 5px !important;">
The general character of the management of the company is not prejudicial to the public interest;</div>
</li>
<li><div style="margin: 5px !important;">
The company has submitted a plan for, or implemented, a robust and secure Information Technology system;</div>
</li>
<li><div style="margin: 5px !important;">
The company has submitted a viable business plan for conducting the business of Peer to Peer Lending Platform;</div>
</li>
<li><div style="margin: 5px !important;">
Public interest shall be served by the grant of CoR;</div>
</li>
<li>Any other condition as may be specified by the Bank, fulfillment of which, in the opinion of the Bank, is necessary to ensure that the commencement of or carrying on the business in India shall not be prejudicial to the public interest.</li>
</ol>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
In case of prospective NBFC-P2Ps</div>
<div style="font-size: 13px; margin: 5px;">
(iii) The Bank may, after being satisfied that the conditions specified under paragraph 5(2)(ii) are fulfilled, grant in-principle approval for setting up of a Peer to Peer Lending Platform, subject to such conditions which it may consider fit to impose.</div>
<div style="font-size: 13px; margin: 5px;">
(iv) The validity of the in-principle approval issued by the Bank will be twelve months from the date of granting such in-principle approval.</div>
<div style="font-size: 13px; margin: 5px;">
(v) Within the period of twelve months, the company shall put in place the technology platform, enter into all other legal documentations required and report position of compliance with the terms of grant of in-principle approval to the Bank.</div>
<div style="font-size: 13px; margin: 5px;">
(vi) The Bank may, after being satisfied that the entity is ready to commence operations, grant a CoR as an NBFC–P2P, subject to conditions as deemed fit by the Bank.<br />
<br /></div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
In case of existing NBFC-P2Ps</div>
<div style="font-size: 13px; margin: 5px;">
(vii) Companies that are undertaking the business of Peer to Peer Lending Platform, as defined at paragraph 4(1)(v) of these directions, as on the date of effect of these directions, shall apply for registration as an NBFC-P2P to the Bank within 3 months from that date. Such companies, which have applied to the Bank for registration as an NBFC - P2P, shall be permitted to continue the business of a Peer to Peer Lending Platform till their application for issuance of CoR is rejected, subject to such conditions, including winding down of business, as the Reserve Bank may impose.</div>
<div style="font-size: 13px; margin: 5px;">
(viii) The Bank may cancel the CoR granted to an NBFC-P2P, if such company –</div>
<ol style="font-size: 13px; margin: 1em 0px; padding: 0px 0px 0px 65px;" type="a">
<li><div style="margin: 5px !important;">
ceases to carry on the business of Peer to Peer Lending Platform in India; or</div>
</li>
<li><div style="margin: 5px !important;">
has failed to comply with any condition subject to which the CoR has been issued to it; or</div>
</li>
<li><div style="margin: 5px !important;">
is no longer eligible to hold the CoR; or</div>
</li>
<li><div style="margin: 5px !important;">
at any time fails to fulfill any of the conditions referred to in paragraphs 5(2)(ii) and 5(2)(v); or</div>
</li>
<li><div style="margin: 5px !important;">
fails to –<br />
(i) comply with any Direction issued by the Bank; or<br />
(ii) maintain accounts, publish and disclose its financial position in accordance with the requirements of any law or any Direction or order issued by the Bank; or<br />
(iii) submit or offer for inspection its books of account or other relevant documents when so demanded by the Bank.</div>
</li>
</ol>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
6. Scope of Activities</div>
<div style="font-size: 13px; margin: 5px;">
(1) An NBFC-P2P shall-</div>
<ol style="font-size: 13px; margin: 1em 0px; padding: 0px 0px 0px 65px;" type="i">
<li><div style="margin: 5px !important;">
act as an intermediary providing an online marketplace or platform to the participants involved in Peer to Peer lending;</div>
</li>
<li><div style="margin: 5px !important;">
not raise deposits as defined by or under Section 45I(bb) of the Act or the Companies Act, 2013;</div>
</li>
<li><div style="margin: 5px !important;">
not lend on its own;</div>
</li>
<li><div style="margin: 5px !important;">
not provide or arrange any credit enhancement or credit guarantee;</div>
</li>
<li><div style="margin: 5px !important;">
not facilitate or permit any secured lending linked to its platform; i.e. only clean loans will be permitted;</div>
</li>
<li><div style="margin: 5px !important;">
not hold, on its own balance sheet, funds received from lenders for lending, or funds received from borrowers for servicing loans; or such funds as stipulated in paragraph 9;</div>
</li>
<li><div style="margin: 5px !important;">
not cross sell any product except for loan specific insurance products;</div>
</li>
<li><div style="margin: 5px !important;">
not permit international flow of funds;</div>
</li>
<li><div style="margin: 5px !important;">
ensure adherence to legal requirements applicable to the participants as prescribed under relevant laws.</div>
</li>
<li><div style="margin: 5px !important;">
store and process all data relating to its activities and participants on hardware located within India.</div>
</li>
</ol>
<div style="font-size: 13px; margin: 5px;">
(2) Further, NBFC-P2P shall-</div>
<ol style="font-size: 13px; margin: 1em 0px; padding: 0px 0px 0px 65px;" type="i">
<li><div style="margin: 5px !important;">
undertake due diligence on the participants;</div>
</li>
<li><div style="margin: 5px !important;">
undertake credit assessment and risk profiling of the borrowers and disclose the same to their prospective lenders;</div>
</li>
<li><div style="margin: 5px !important;">
require prior and explicit consent of the participant to access its credit information;</div>
</li>
<li><div style="margin: 5px !important;">
undertake documentation of loan agreements and other related documents;</div>
</li>
<li><div style="margin: 5px !important;">
provide assistance in disbursement and repayments of loan amount;</div>
</li>
<li><div style="margin: 5px !important;">
render services for recovery of loans originated on the platform.</div>
</li>
</ol>
<div style="font-size: 13px; margin: 5px;">
(3) NBFC-P2P shall not undertake any activity other than those stated in paras 6(1) and 6(2) of these Directions. Deployment of investible funds by an NBFC-P2P in instruments specified by the Bank, not for trading, shall however be permitted.</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
7. Prudential Norms</div>
<div style="font-size: 13px; margin: 5px;">
(1) NBFC-P2P shall maintain a Leverage Ratio not exceeding 2.</div>
<div style="font-size: 13px; margin: 5px;">
(2) The aggregate exposure of a lender to all borrowers at any point of time, across all P2Ps, shall be subject to a cap of ₹ 10,00,000/-.</div>
<div style="font-size: 13px; margin: 5px;">
(3) The aggregate loans taken by a borrower at any point of time, across all P2Ps, shall be subject to a cap of ₹ 10,00,000/-.</div>
<div style="font-size: 13px; margin: 5px;">
(4) The exposure of a single lender to the same borrower, across all P2Ps, shall not exceed ₹ 50,000/-.</div>
<div style="font-size: 13px; margin: 5px;">
(5) The maturity of the loans shall not exceed 36 months.</div>
<div style="font-size: 13px; margin: 5px;">
(6) P2Ps shall obtain a certificate from the borrower or lender, as applicable, that the limits prescribed above are being adhered to.<br />
<br /></div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
8. Operational Guidelines</div>
<div style="font-size: 13px; margin: 5px;">
(1) NBFC-P2P shall have a Board approved policy in place -</div>
<ol style="font-size: 13px; margin: 1em 0px; padding: 0px 0px 0px 65px;" type="i">
<li><div style="margin: 5px !important;">
Setting out the eligibility criteria for participants on it.</div>
</li>
<li><div style="margin: 5px !important;">
Determining the pricing of services provided by it.</div>
</li>
<li><div style="margin: 5px !important;">
Setting out the rules for matching lenders with borrowers in an equitable and non-discriminatory manner.</div>
</li>
</ol>
<div style="font-size: 13px; margin: 5px;">
(2) The outsourcing of any activity by NBFC-P2P does not diminish its obligations and it shall be responsible for the actions of its service providers including recovery agents and the confidentiality of information pertaining to the participant that is available with the service providers.</div>
<div style="font-size: 13px; margin: 5px;">
(3) No loan shall be disbursed unless the individual lender/s have approved the individual recipient/s of the loan and all concerned participants have signed the loan contract.<br />
<br /></div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
9. Fund Transfer Mechanism</div>
<div style="font-size: 13px; margin: 5px;">
Fund transfer between the participants on the Peer to Peer Lending Platform shall be through escrow account mechanisms which will be operated by a trustee. At least two escrow accounts, one for funds received from lenders and pending disbursal, and the other for collections from borrowers, shall be maintained. The trustee shall mandatorily be promoted by the bank maintaining the escrow accounts. All fund transfers shall be through and from bank accounts and cash transaction is strictly prohibited. The mechanism as described in the Annex-I may be adopted by the NBFC-P2P.<br />
<br /></div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
10. Submission of data to Credit Information Companies (CICs)</div>
<div style="font-size: 13px; margin: 5px;">
(1) An NBFC-P2P shall become member of all CICs and submit data (including historical data) to them.</div>
<div style="font-size: 13px; margin: 5px;">
(2) NBFC-P2P shall:</div>
<div style="font-size: 13px; margin: 5px;">
(i) keep the credit information (relating to borrower transactions on the platform) maintained by it, updated regularly on a monthly basis or at such shorter intervals as may be mutually agreed upon between the NBFC-P2P and the CICs;</div>
<div style="font-size: 13px; margin: 5px;">
(ii) take all such steps which may be necessary to ensure that the credit information furnished by it is up to date, accurate and complete;</div>
<div style="font-size: 13px; margin: 5px;">
(iii) include necessary consents in the agreement with the participants for providing the required credit information;<br />
<br /></div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
11. Transparency and Disclosure Requirements</div>
<div style="font-size: 13px; margin: 5px;">
(1) An NBFC-P2P shall be required to disclose the following:</div>
<div style="font-size: 13px; margin: 5px;">
(i) to the lender</div>
<ol style="font-size: 13px; margin: 1em 0px; padding: 0px 0px 0px 65px;" type="a">
<li><div style="margin: 5px !important;">
details about the borrower/s including personal identity, required amount, interest rate sought and credit score as arrived by the NBFC-P2P.</div>
</li>
<li><div style="margin: 5px !important;">
details about all the terms and conditions of the loan, including likely return, fees and taxes;</div>
</li>
</ol>
<div style="font-size: 13px; margin: 5px;">
(ii) to the borrower - details about the lender/s including proposed amount, interest rate offered but excluding personal identity and contact details;</div>
<div style="font-size: 13px; margin: 5px;">
(iii) publicly disclose on its website:</div>
<ol style="font-size: 13px; margin: 1em 0px; padding: 0px 0px 0px 65px;" type="a">
<li><div style="margin: 5px !important;">
overview of credit assessment/score methodology and factors considered;</div>
</li>
<li><div style="margin: 5px !important;">
disclosures on usage/protection of data;</div>
</li>
<li><div style="margin: 5px !important;">
grievance redressal mechanism;</div>
</li>
<li><div style="margin: 5px !important;">
portfolio performance including share of non-performing assets on a monthly basis and segregation by age; and</div>
</li>
<li><div style="margin: 5px !important;">
its broad business model.</div>
</li>
</ol>
<div style="font-size: 13px; margin: 5px;">
(2) NBFC-P2P shall ensure that the providing of services to a participant, who has applied for availing of such services, is backed by appropriate agreements between the participants and the NBFC-P2P. The agreements shall categorically specify all the terms and conditions among the borrower, the lender and the NBFC-P2P.</div>
<div style="font-size: 13px; margin: 5px;">
(3) The interest rates displayed on the platform shall be in Annualized Percentage Rate (APR) format.<br />
<br /></div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
12. Fair Practices Code</div>
<div style="font-size: 13px; margin: 5px;">
(1) An NBFC-P2P shall put in place a Fair Practices Code, based on the Guidelines outlined herein, with the approval of its Board. The same should be put up on its web-site, for the information of various stakeholders.</div>
<div style="font-size: 13px; margin: 5px;">
(2) NBFC-P2P shall be required to obtain explicit affirmation from the lender stating that he/ she has understood the risks associated with the proposed transaction and that there is no guarantee of return and that there exists a likelihood of loss of entire principal in case of default by a borrower. The platform shall not provide any assurance for the recovery of loans. Further, the platform shall display a caveat that “Reserve Bank of India does not accept any responsibility for the correctness of any of the statements or representations made or opinions expressed by the NBFC-P2P, and does not provide any assurance for repayment of the loans lent on it”.<br />
<br /></div>
<div style="font-size: 13px; margin: 5px;">
(3) In the matter of recovery of loans, NBFC-P2P shall ensure that the staff are adequately trained to deal with the participants in an appropriate manner and shall not resort to harassment viz; persistently bothering the borrowers at odd hours, use of coercion for recovery of loans, etc.<br />
<br /></div>
<div style="font-size: 13px; margin: 5px;">
(4) NBFC-P2P shall ensure that any information relating to the participants received by it is not disclosed to any third party without the consent of the participants.<br />
<br /></div>
<div style="font-size: 13px; margin: 5px;">
(5) The Board of Directors shall also provide for periodic review of the compliance of the Fair Practices Code and the functioning of the grievances redressal mechanism at various levels of management. A consolidated report of such reviews shall be submitted to the Board at regular intervals, as may be prescribed by it.<br />
<br /></div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
13. Participant Grievance Redressal<br />
<br /></div>
<div style="font-size: 13px; margin: 5px;">
(1) An NBFC-P2P shall put in place a Board approved policy to address participant grievances/complaints. Complaints shall be handled/ disposed of by NBFC-P2P within such time and in such manner as provided for in its Board approved policy, but in any case not beyond a period of one month from the date of receipt.</div>
<div style="font-size: 13px; margin: 5px;">
(2) At the operational level, NBFC-P2P shall display the following information prominently, for the benefit of participants, on the website:</div>
<div style="font-size: 13px; margin: 5px;">
(i) the name and contact details (Telephone / Mobile Nos. as also email address) of the Grievance Redressal Officer who can be approached for resolution of complaints against the NBFC-P2P.</div>
<div style="font-size: 13px; margin: 5px;">
(ii) that if the complaint / dispute is not redressed within a period of one month, the participant may appeal to the Customer Education and Protection Department of the Bank.<br />
<br /></div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
<span style="color: brown;">13A. Nodal Officer/ Principal Nodal Officer</span><br />
<span style="color: brown;"><br /></span></div>
<div style="font-size: 13px; margin: 5px;">
<span style="color: brown;">NBFCs covered under the Ombudsman Scheme for Non-Banking Financial Companies, 2018 shall appoint Nodal Officer/ Principal Nodal Officer in accordance with directions as provided under Annex VII.</span></div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
14. Information Technology Framework, Data Security and Business Continuity Plan</div>
<div style="font-size: 13px; margin: 5px;">
(1) Business of an NBFC-P2P shall be primarily Information Technology (IT) driven. The technology should be scalable to handle growth in business.</div>
<div style="font-size: 13px; margin: 5px;">
(2) There should be adequate safeguards built in its IT systems to ensure that it is protected against unauthorized access, alteration, destruction, disclosure or dissemination of records and data. The Bank may from time to time, prescribe technical specifications, as deemed fit.</div>
<div style="font-size: 13px; margin: 5px;">
(3) NBFC-P2P should have a Board approved Business Continuity Plan in place for safekeeping of information and documents and servicing of loans for full tenure in case of closure of platform.</div>
<div style="font-size: 13px; margin: 5px;">
(4) Information System Audit of the internal systems and processes shall be in place and shall be conducted at least once in two years by CISA certified external auditors. Report of the external auditor shall be submitted to the Regional Office of the Department of Non-Banking Supervision of the Bank, under whose jurisdiction the Registered Office of the NBFC-P2P is located, within one month of submission of the report by the external auditor.</div>
<div style="font-size: 13px; margin: 5px;">
(5) There shall be reasonable arrangements in place to ensure that loan agreements facilitated on the platform will continue to be managed and administered by a third party in accordance with the contract terms, if the NBFC-P2P ceases to carry on the P2P activity.</div>
<div style="font-size: 13px; margin: 5px;">
(6) NBFC-P2P would be required to conform with Master Direction DNBS.PPD. No. 04/66.15.001/2016-17 dated June 8, 2017 on Information Technology Framework for NBFC Sector, as stipulated in Section A from inception.<br />
<br /></div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
15. Fit and Proper Criteria</div>
<div style="font-size: 13px; margin: 5px;">
(1) An NBFC-P2P shall</div>
<div style="font-size: 13px; margin: 5px;">
(i) ensure that a policy is put in place, with the approval of the Board of Directors, setting out ‘Fit and Proper’ criteria to be met by its directors. These criteria shall be consistent with the requirements contained in Annexes II to IV;</div>
<div style="font-size: 13px; margin: 5px;">
(ii) ensure that Directors meet the fit and proper criteria at the time of their appointment and on an ongoing basis, certify and inform the same to the Bank on a half-yearly basis;</div>
<div style="font-size: 13px; margin: 5px;">
(iii) obtain a declaration and undertaking from the Directors giving additional information. The declaration and undertaking shall be on the lines of the format given in Annex III;</div>
<div style="font-size: 13px; margin: 5px;">
(iv) obtain a Deed of Covenants signed by the Directors, which shall be in the format as given in Annex IV;</div>
<div style="font-size: 13px; margin: 5px;">
(v) advise the Bank of any change of Directors, or key management personnel, and issue a certificate from the Managing Director/CEO of the NBFC-P2P that fit and proper criteria in selection of the Directors have been followed. The statement must reach the Regional Office of the Department of Non-Banking Supervision of the Bank under whose jurisdiction the Registered Office of the NBFC-P2P is located, within 15 days of the change. An annual statement shall be submitted by the CEO of the NBFC-P2P to the said Regional Office, giving the names of its Directors for the quarter ending on March 31, which should be certified by the auditors.</div>
<div style="font-size: 13px; margin: 5px;">
The Bank, if it deems fit and in public interest, may independently assess whether the directors are, individually or collectively, fit and proper and the NBFC-P2P shall remove the concerned director/s, on being advised by the Bank to do so.</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
16. Requirement to obtain prior approval of the Bank for allotment of shares, acquisition or transfer of control of NBFC-P2P</div>
<div style="font-size: 13px; margin: 5px;">
(1) Prior written permission of the Bank shall be required for –</div>
<div style="font-size: 13px; margin: 5px;">
(i) any allotment of shares which will take the aggregate holding of an individual or group to equivalent of 26 per cent and more of the paid up capital of the NBFC-P2P;</div>
<div style="font-size: 13px; margin: 5px;">
<span class="head" style="font-weight: bold;">Explantation:</span> For the purpose of this paragraph, the term</div>
<ol style="font-size: 13px; margin: 1em 0px; padding: 0px 0px 0px 65px;" type="a">
<li><div style="margin: 5px !important;">
"holding" refers to both direct and indirect holding, beneficial or otherwise. The holding will be computed with reference to the holding of the applicant, relatives (where the applicant is a natural person) and associated enterprises.</div>
</li>
<li><div style="margin: 5px !important;">
"relative" has the same meaning as assigned under section 2(77) of the Companies Act, 2013.</div>
</li>
<li><div style="margin: 5px !important;">
"associate entreprise” has the same meaning as assigned to it in Explanation I to Section 12B of the Banking Regulation Act, 1949.</div>
</li>
</ol>
<div style="font-size: 13px; margin: 5px;">
(ii) any takeover or acquisition of control of an NBFC-P2P, which may or may not result in change of management;</div>
<div style="font-size: 13px; margin: 5px;">
(iii) any change in the shareholding of an NBFC-P2P, including progressive increases over time, which would result in acquisition by/ transfer of shareholding to, any entity, of 26 per cent or more of the paid up equity capital of the NBFC-P2P;</div>
<div style="font-size: 13px; margin: 5px;">
<span class="head" style="font-weight: bold;">Provided that,</span> prior approval would not be required in case of any shareholding going beyond 26% due to buyback of shares / reduction in capital where it has approval of a competent Court. The same is to be reported to the Bank not later than one month from its occurrence;</div>
<div style="font-size: 13px; margin: 5px;">
(iv) any change in the management of the NBFC-P2P which would result in change in more than 30 per cent of the Directors, excluding independent Directors;</div>
<div style="font-size: 13px; margin: 5px;">
(v) any change in shareholding that will give the acquirer a right to nominate a Director.</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
Application for Prior Approval</div>
<div style="font-size: 13px; margin: 5px;">
(2) An NBFC-P2P shall submit an application, on the company letter head, for obtaining prior approval of the Bank, along with the following documents:</div>
<div style="font-size: 13px; margin: 5px;">
(i) Information about the proposed Directors/ shareholders as per Annex V;</div>
<div style="font-size: 13px; margin: 5px;">
(ii) Sources of funds of the proposed shareholders acquiring the shares in the NBFC-P2P;</div>
<div style="font-size: 13px; margin: 5px;">
(iii) Declaration by the proposed Directors/ shareholders that they are not associated with any unincorporated body that is accepting deposits;</div>
<div style="font-size: 13px; margin: 5px;">
(iv) Declaration by the proposed Directors/ shareholders that they are not associated with any company, the application for CoR of which has been rejected by the Bank;</div>
<div style="font-size: 13px; margin: 5px;">
(v) Declaration by the proposed Directors/ shareholders that they have not been convicted of any crime and that there are no pending criminal cases against them, including proceedings initiated under section 138 of the Negotiable Instruments Act,1881; and</div>
<div style="font-size: 13px; margin: 5px;">
(vi) Bankers' Report on the proposed Directors / shareholders.</div>
<div style="font-size: 13px; margin: 5px;">
(3) Applications in this regard shall be submitted to the Regional Office of the Department of Non-Banking Supervision of the Bank where the company is registered.</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
Public Notice about Change in Control/ Management</div>
<div style="font-size: 13px; margin: 5px;">
(4) A public notice of at least 30 days shall be given before effecting the sale of, or transfer of the ownership by sale of shares, or transfer of control, whether with or without sale of shares. Such public notice shall be given by the NBFC-P2P and also by the other party or jointly by the parties concerned, after obtaining the prior permission of the Bank.</div>
<div style="font-size: 13px; margin: 5px;">
(5) The public notice shall indicate the intention to sell or transfer ownership/control, the particulars of transferee and the reasons for such sale or transfer of ownership/ control. The notice shall be published in at least one leading national and in one leading local (covering the place of registered office) vernacular newspaper.</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
Information with respect to change of address, directors, auditors, etc. to be submitted</div>
<div style="font-size: 13px; margin: 5px;">
(6) Every NBFC-P2P shall communicate, not later than one month from the occurrence of any change in:</div>
<div style="font-size: 13px; margin: 5px;">
(i) the complete postal address, telephone number/s and fax number/s of the registered / corporate office;</div>
<div style="font-size: 13px; margin: 5px;">
(ii) the residential addresses of the Directors of the company;</div>
<div style="font-size: 13px; margin: 5px;">
(iii) the names and office address of the auditors of the company; and</div>
<div style="font-size: 13px; margin: 5px;">
(iv) the specimen signatures of the officers authorised to sign on behalf of the NBFC-P2P to the Regional Office of the Department of Non-Banking Supervision of the Bank within whose jurisdiction the Registered Office of the NBFC-P2P is located.</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
<span style="color: green;">17. Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFC-P2P.</span></div>
<div style="font-size: 13px; margin: 5px;">
<span style="color: green;">NBFC-P2P shall conduct a self-assessment of their existing outsourcing arrangements and bring these in line with the directions as provided at Annex VI.</span></div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
18. Reporting Requirements</div>
<div style="font-size: 13px; margin: 5px;">
(1) The Bank may, from time to time, prescribe return/s to be submitted by NBFC-P2P, as it deems fit.</div>
<div style="font-size: 13px; margin: 5px;">
(2) The following quarterly statements shall be submitted to the aforesaid Regional Office within 15 days after the quarter to which these relate.</div>
<div style="font-size: 13px; margin: 5px;">
(i) A statement, showing the number and amount in respect of loans;</div>
<ol style="font-size: 13px; margin: 1em 0px; padding: 0px 0px 0px 65px;" type="a">
<li><div style="margin: 5px !important;">
disbursed during the quarter;</div>
</li>
<li><div style="margin: 5px !important;">
closed during the quarter; and</div>
</li>
<li><div style="margin: 5px !important;">
outstanding at the beginning and at the end of the quarter, including the number of lenders and borrowers outstanding as at the end of the quarter</div>
</li>
</ol>
<div style="font-size: 13px; margin: 5px;">
(ii) The amount of funds held in the Escrow Account, bifurcated into funds received from lenders and funds received from borrowers, with credit and debit summations for the quarter.</div>
<div style="font-size: 13px; margin: 5px;">
(iii) Number of complaints outstanding at beginning and at end of quarter, and disposed of during the quarter, bifurcated as received from</div>
<ol style="font-size: 13px; margin: 1em 0px; padding: 0px 0px 0px 65px;" type="a">
<li><div style="margin: 5px !important;">
lenders and</div>
</li>
<li><div style="margin: 5px !important;">
borrowers.</div>
</li>
</ol>
<div style="font-size: 13px; margin: 5px;">
(iv) The Leverage Ratio, with details of its numerator and denominator.</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
19. Supervision</div>
<div style="font-size: 13px; margin: 5px;">
The Bank may, at any time, cause an inspection by one or more of its officers or employees, or by any other agency as Bank may deem fit, of any NBFC-P2P.</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
20. Exemptions</div>
<div style="font-size: 13px; margin: 5px;">
The Bank may, if it considers necessary for avoiding any hardship or for any other just and sufficient reason, grant extension of time to comply with or exempt any NBFC-P2P or class of NBFC-P2Ps or all NBFC-P2Ps, from all or any of the provisions of these Directions, either generally or specially, and subject to such conditions as it may impose.</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
21. Clarifications</div>
<div style="font-size: 13px; margin: 5px;">
If any question arises relating to the interpretation of these directions, the matter shall be referred to the Bank and the decision of the Bank shall be final.</div>
<div align="right" style="font-size: 13px; margin: 5px;">
(C.D.Srinivasan)<br />
Chief General Manager</div>
<hr style="background: grey; border-bottom: 0px; border-left: 0px; border-right: 0px; border-top-color: rgb(204, 204, 204); border-top-style: solid; font-size: 13px; height: 1px; margin: 1em 0px; padding: 0px;" />
<div align="right" class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
<a href="https://www.blogger.com/null" id="ANN2" style="background: none 0px 0px repeat scroll rgba(0, 0, 0, 0); line-height: 20px;"></a>Annex II</div>
<div align="center" class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
‘Fit and Proper’ Criteria for Directors of NBFC-P2Ps</div>
<div style="font-size: 13px; margin: 5px;">
NBFC-P2Ps are advised to ensure that the procedures mentioned below are followed and minimum criteria fulfilled by the persons before they are appointed on the Boards:</div>
<ol style="font-size: 13px; margin: 1em 0px; padding: 0px 0px 0px 65px;" type="a">
<li><div style="margin: 5px !important;">
NBFC-P2Ps should undertake a process of due diligence to determine the suitability of the person for appointment / continuing to hold appointment as a Director on the Board, based upon qualification, expertise, track record, integrity and other ‘fit and proper’ criteria. NBFC-P2Ps should obtain necessary information and declaration from the proposed / existing Directors for the purpose in the format given at Annex III.</div>
</li>
<li><div style="margin: 5px !important;">
The process of due diligence should be undertaken by the NBFC-P2Ps at the time of appointment / renewal of appointment.</div>
</li>
<li><div style="margin: 5px !important;">
The Boards of the NBFC-P2Ps should constitute Nomination Committees to scrutinize the declarations.</div>
</li>
<li><div style="margin: 5px !important;">
Based on the information provided in the signed declaration, Nomination Committees should decide on the acceptance or otherwise of the Directors, where considered necessary.</div>
</li>
<li><div style="margin: 5px !important;">
Where there is any change in information provided by the Directors earlier, the same should be furnished by them to the NBFC-P2P immediately.</div>
</li>
<li><div style="margin: 5px !important;">
NBFC-P2Ps should obtain annually as on 31st March a simple declaration from the Directors that the information already provided has not undergone change and where there is any change, requisite details are furnished by them forthwith.</div>
</li>
<li><div style="margin: 5px !important;">
The Board of the NBFC-P2P must ensure in public interest that the nominated/ elected Directors execute the deeds of covenants in the format given in Annex IV.</div>
</li>
</ol>
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<a href="https://www.blogger.com/null" id="ANN3" style="background: none 0px 0px repeat scroll rgba(0, 0, 0, 0); line-height: 20px;"></a>Annex III</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
Name of NBFC-P2P: ________________________</div>
<table align="center" border="0" cellpadding="0" cellspacing="1" class="tablebg" style="border-collapse: collapse; border-color: rgb(239, 209, 170); border-style: solid; border-width: 1px; color: black; font-size: 13px; width: 85%;"><tbody>
<tr style="height: auto !important;"><td colspan="4" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"><span class="head" style="font-weight: bold;">Declaration and Undertaking by Director (<u>with enclosures as appropriate as on</u>)</span></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" width="31"><span class="head" style="font-weight: bold;">I.</span></td><td colspan="2" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"><span class="head" style="font-weight: bold;">Personal details of director</span></td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" width="117"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" width="26">a.</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" width="977">Full name</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">b.</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">Date of Birth</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">c.</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">Educational Qualifications</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">d.</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">Relevant Background and Experience</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">e.</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">Permanent Address</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">f.</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">Present Address</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">g.</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">E-mail Address / Telephone Number</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">h.</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">Permanent Account Number under the Income Tax Act and name and address of Income Tax Circle</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">i.</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">Relevant knowledge and experience</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">j.</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">Any other information relevant to Directorship of the NBFC-P2P</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" class="head" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); font-weight: bold; height: auto !important; padding-left: 3px; padding-right: 3px;">II</td><td class="head" colspan="2" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); font-weight: bold; height: auto !important; padding-left: 3px; padding-right: 3px;">Relevant Relationships of Director</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top">a.</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">List of Relatives if any who are connected with the NBFC-P2P (Refer to the relevant provisions of Companies Act, 2013)</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top">b.</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">List of entities if any in which he/she is considered as being interested</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">c.</td><td align="justify" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">List of entities in which he/she is considered as holding substantial interest within the meaning of prudential norms as prescribed in these Directions.</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">d.</td><td align="justify" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">Name of NBFCs in which he/she is or has been a member of the board (giving details of period during which such office was held)</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">e.</td><td align="justify" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">Fund and non-fund facilities, if any, presently availed of by him/her and/or by entities listed in II (b) and (c) above from the NBFC</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top">f.</td><td align="justify" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">Cases, if any, where the director or entities listed in II (b) and (c) above are in default or have been in default in the past in respect of credit facilities obtained from the NBFC or any other NBFC / bank.</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" class="head" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); font-weight: bold; height: auto !important; padding-left: 3px; padding-right: 3px;">III</td><td class="head" colspan="2" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); font-weight: bold; height: auto !important; padding-left: 3px; padding-right: 3px;">Records of professional achievements</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">a.</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">Relevant professional achievements</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" class="head" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); font-weight: bold; height: auto !important; padding-left: 3px; padding-right: 3px;">IV.</td><td class="head" colspan="2" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); font-weight: bold; height: auto !important; padding-left: 3px; padding-right: 3px;">Proceedings, if any, against the director</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top">a.</td><td align="justify" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">If the director is a member of a professional association/body, details of disciplinary action, if any, pending or commenced or resulting in conviction in the past against him/her or whether he/she has been banned from entry into any profession/ occupation at any time.</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top">b.</td><td align="justify" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">Details of prosecution, if any, pending or commenced or resulting in conviction in the past against the director and/or against any of the entities listed in II (b) and (c) above for violation of economic laws and regulations</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">c.</td><td align="justify" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">Details of criminal prosecution, if any, pending or commenced or resulting in conviction in the last five years against the director</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top">d.</td><td align="justify" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">Whether the director attracts any of the disqualifications envisaged under the Companies Act, 2013?</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">e.</td><td align="justify" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">Has the director or any of the entities at II (b) and (c) above been subject to any investigation at the instance of Government department or agency?</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top">f.</td><td align="justify" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">Has the director at any time been found guilty of violation of rules/regulations/ legislative requirements by customs/ excise /income tax/foreign exchange /other revenue authorities, if so give particulars</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">g.</td><td align="justify" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;">Whether the director has at any time come to the adverse notice of a regulator such as SEBI, IRDA, MCA.</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="center" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td><td align="justify" class="head" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); font-weight: bold; height: auto !important; padding-left: 3px; padding-right: 3px;">(Though it shall not be necessary for a candidate to mention in the column about orders and findings made by the regulators which have been later on reversed/set aside in toto, it would be necessary to make a mention of the same, in case the reversal/setting aside is on technical reasons like limitation or lack of jurisdiction, etc and not on merit, If the order of the regulator is temporarily stayed and the appellate/ court proceedings are pending, the same also should be mentioned.)</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td align="center" class="head" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); font-weight: bold; height: auto !important; padding-left: 3px; padding-right: 3px;">V.</td><td align="justify" class="head" colspan="2" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); font-weight: bold; height: auto !important; padding-left: 3px; padding-right: 3px;">Any other explanation / information in regard to items I to III and other information considered relevant for judging fit and proper</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
</tbody></table>
<table align="center" border="0" cellpadding="0" cellspacing="1" class="tablebg" style="border-collapse: collapse; border-color: rgb(239, 209, 170); border-style: solid; border-width: 1px; color: black; font-size: 13px; width: 85%;"><tbody>
<tr class="head" style="font-weight: bold; height: auto !important;"><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top" width="3%"></td><td colspan="2" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top">Undertaking</td></tr>
<tr style="height: auto !important;"><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top" width="3%"></td><td align="justify" colspan="2" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top">I confirm that the above information is to the best of my knowledge and belief true and complete. I undertake to keep the NBFC-P2P fully informed, as soon as possible, of all events which take place subsequent to my appointment which are relevant to the information provided above.</td></tr>
<tr style="height: auto !important;"><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top" width="3%"></td><td align="justify" colspan="2" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top">I also undertake to execute the deed of covenant required to be executed by all directors of the NBFC-P2P.</td></tr>
<tr style="height: auto !important;"><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top" width="3%"></td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top" width="65%">Place :</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top" width="32%">Signature</td></tr>
<tr style="height: auto !important;"><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top" width="3%"></td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top" width="65%">Date :</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top" width="32%"></td></tr>
<tr style="height: auto !important;"><td align="center" class="head" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); font-weight: bold; height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top" width="3%">VI.</td><td align="justify" class="head" style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); font-weight: bold; height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top" width="65%">Remarks of Chairman of Nomination Committee/Board of Directors of NBFC-P2P</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top" width="32%"></td></tr>
<tr style="height: auto !important;"><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top" width="3%"></td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top" width="65%">Place :</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top" width="32%">Signature</td></tr>
<tr style="height: auto !important;"><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top" width="3%"></td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top" width="65%">Date:</td><td style="border-collapse: separate; border: 1px solid rgb(239, 209, 170); height: auto !important; padding-left: 3px; padding-right: 3px;" valign="top" width="32%"></td></tr>
</tbody></table>
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<div align="right" class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
<a href="https://www.blogger.com/null" id="ANN4" style="background: none 0px 0px repeat scroll rgba(0, 0, 0, 0); line-height: 20px;"></a>Annex IV</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
<u>Form of Deed of Covenant with a Director</u></div>
<div style="font-size: 13px; margin: 5px;">
<span class="head" style="font-weight: bold;">THIS DEED OF COVENANTS</span> is made this ______ day of ________Two thousand _____ <span class="head" style="font-weight: bold;">BETWEEN</span> _______________, having its registered office at ____________ (hereinafter called the “NBFC-P2P") of the one part and Mr / Ms_____________ of ______________ (hereinafter called the "Director") of the other part.</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
WHEREAS</div>
<div style="font-size: 13px; margin: 5px;">
A. The director has been appointed as a director on the Board of Directors of the NBFC-P2P (hereinafter called "the Board") and is required as a term of his / her appointment to enter into a Deed of Covenants with the NBFC-P2P.</div>
<div style="font-size: 13px; margin: 5px;">
B. The director has agreed to enter into this Deed of Covenants, which has been approved by the Board, pursuant to his said terms of appointment.</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
NOW IT IS HEREBY AGREED AND THIS DEED OF COVENANTS WITNESSETH AS FOLLOWS:</div>
<div style="font-size: 13px; margin: 5px;">
1. The Director acknowledges that his / her appointment as director on the Board of the NBFC-P2P is subject to applicable laws and regulations including the Memorandum and Articles of Association of the NBFC-P2P and the provisions of this Deed of Covenants.</div>
<div style="font-size: 13px; margin: 5px;">
2. The Director covenants with the NBFC-P2P that:</div>
<div style="font-size: 13px; margin: 5px;">
(i) The Director shall disclose to the Board the nature of his / her interest, direct or indirect, if he / she has any interest in or is concerned with a contract or arrangement or any proposed contract or arrangement entered into or to be entered into between the NBFC-P2P and any other entity, immediately upon becoming aware of the same or at meeting of the Board at which the question of entering into such contract or arrangement is taken into consideration or if the director was not at the date of that meeting concerned or interested in such proposed contract or arrangement, then at the first meeting of the Board held after he / she becomes so concerned or interested and in case of any other contract or arrangement, the required disclosure shall be made at the first meeting of the Board held after the Director becomes concerned or interested in the contract or arrangement.</div>
<div style="font-size: 13px; margin: 5px;">
(ii) The Director shall disclose by general notice to the Board his / her other directorships, his / her memberships of bodies corporate, his / her interest in other entities and his / her interest as a partner or proprietor of firms and shall keep the Board apprised of all changes therein.</div>
<div style="font-size: 13px; margin: 5px;">
(iii) The Director shall provide to the NBFC-P2P a list of his / her relatives as defined in the Companies Act, 2013 and to the extent the Director is aware of directorships and interests of such relatives in other bodies corporate, firms and other entities.</div>
<div style="font-size: 13px; margin: 5px;">
(iv) The Director shall in carrying on his / her duties as director of the NBFC-P2P:</div>
<ol style="font-size: 13px; margin: 1em 0px; padding: 0px 0px 0px 65px;" type="a">
<li><div style="margin: 5px !important;">
use such degree of skill as may be reasonable to expect from a person with his / her knowledge or experience;</div>
</li>
<li><div style="margin: 5px !important;">
in the performance of his / her duties take such care as he / she might be reasonably expected to take on his / her own behalf and exercise any power vested in him / her in good faith and in the interests of the NBFC-P2P;</div>
</li>
<li><div style="margin: 5px !important;">
shall keep himself / herself informed about the business, activities and financial status of the NBFC-P2P to the extent disclosed to him / her;</div>
</li>
<li><div style="margin: 5px !important;">
attend meetings of the Board and Committees thereof (collectively for the sake of brevity hereinafter referred to as "Board") with fair regularity and conscientiously fulfil his / her obligations as director of the NBFC-P2P;</div>
</li>
<li><div style="margin: 5px !important;">
shall not seek to influence any decision of the Board for any consideration other than in the interests of the NBFC-P2P;</div>
</li>
<li><div style="margin: 5px !important;">
shall bring independent judgment to bear on all matters affecting the NBFC-P2P brought before the Board including but not limited to statutory compliances, performance reviews, compliances with internal control systems and procedures, key executive appointments and standards of conduct;</div>
</li>
<li><div style="margin: 5px !important;">
shall in exercise of his / her judgement in matters brought before the Board or entrusted to him / her by the Board be free from any business or other relationship which could materially interfere with the exercise of his / her independent judgement; and</div>
</li>
<li><div style="margin: 5px !important;">
shall express his / her views and opinions at Board meetings without any fear or favour and without any influence on exercise of his / her independent judgement;</div>
</li>
</ol>
<div style="font-size: 13px; margin: 5px;">
(v) The Director shall have:</div>
<ol style="font-size: 13px; margin: 1em 0px; padding: 0px 0px 0px 65px;" type="a">
<li><div style="margin: 5px !important;">
fiduciary duty to act in good faith and in the interests of the NBFC-P2P and not for any collateral purpose;</div>
</li>
<li><div style="margin: 5px !important;">
duty to act only within the powers as laid down by the NBFC-P2P’s Memorandum and Articles of Association and by applicable laws and regulations; and</div>
</li>
<li><div style="margin: 5px !important;">
duty to acquire proper understanding of the business of the NBFC-P2P.</div>
</li>
</ol>
<div style="font-size: 13px; margin: 5px;">
(vi) The Director shall:</div>
<ol style="font-size: 13px; margin: 1em 0px; padding: 0px 0px 0px 65px;" type="a">
<li><div style="margin: 5px !important;">
not evade responsibility in regard to matters entrusted to him / her by the Board;</div>
</li>
<li><div style="margin: 5px !important;">
not interfere in the performance of their duties by the whole-time directors and other officers of the NBFC-P2P and wherever the director has reasons to believe otherwise, he / she shall forthwith disclose his / her concerns to the Board; and</div>
</li>
<li><div style="margin: 5px !important;">
not make improper use of information disclosed to him / her as a member of the Board for his / her or someone else’s advantage or benefit and shall use the information disclosed to him / her by the NBFC-P2P in his / her capacity as director of the NBFC-P2P only for the purposes of performance of his / her duties as a director and not for any other purpose.</div>
</li>
</ol>
<div style="font-size: 13px; margin: 5px;">
3. The NBFC-P2P covenants with the Director that:</div>
<div style="font-size: 13px; margin: 5px;">
(i) the NBFC-P2P shall apprise the Director about:</div>
<ol style="font-size: 13px; margin: 1em 0px; padding: 0px 0px 0px 65px;" type="a">
<li><div style="margin: 5px !important;">
Board procedures including identification of legal and other duties of Director and required compliances with statutory obligations;</div>
</li>
<li><div style="margin: 5px !important;">
control systems and procedures;</div>
</li>
<li><div style="margin: 5px !important;">
voting rights at Board meetings including matters in which Director should not participate because of his / her interest, direct or indirect therein;</div>
</li>
<li><div style="margin: 5px !important;">
qualification requirements and provide copies of Memorandum and Articles of Association;</div>
</li>
<li><div style="margin: 5px !important;">
corporate policies and procedures;</div>
</li>
<li><div style="margin: 5px !important;">
insider dealing restrictions;</div>
</li>
<li><div style="margin: 5px !important;">
constitution of, delegation of authority to and terms of reference of various committees constituted by the Board;</div>
</li>
<li><div style="margin: 5px !important;">
appointments of Senior Executives and their authority;</div>
</li>
<li><div style="margin: 5px !important;">
remuneration policy,</div>
</li>
<li><div style="margin: 5px !important;">
deliberations of committees of the Board, and</div>
</li>
<li><div style="margin: 5px !important;">
communicate any changes in policies, procedures, control systems, applicable regulations including Memorandum and Articles of Association of the NBFC-P2P, delegation of authority, Senior Executives, etc. and appoint the compliance officer who shall be responsible for all statutory and legal compliance.</div>
</li>
</ol>
<div style="font-size: 13px; margin: 5px;">
(ii) the NBFC-P2P shall disclose and provide to the Board including the director all information which is reasonably required for them to carry out their functions and duties as a Director of the NBFC-P2P and to take informed decisions in respect of matters brought before the Board for its consideration or entrusted to the director by the Board or any committee thereof;</div>
<div style="font-size: 13px; margin: 5px;">
(iii) the disclosures to be made by the NBFC-P2P to the Directors shall include but not be limited to the following:</div>
<ol style="font-size: 13px; margin: 1em 0px; padding: 0px 0px 0px 65px;" type="a">
<li><div style="margin: 5px !important;">
all relevant information for taking informed decisions in respect of matters brought before the Board;</div>
</li>
<li><div style="margin: 5px !important;">
NBFC-P2P’s strategic and business plans and forecasts;</div>
</li>
<li><div style="margin: 5px !important;">
organisational structure of the NBFC-P2P and delegation of authority;</div>
</li>
<li><div style="margin: 5px !important;">
corporate and management controls and systems including procedures;</div>
</li>
<li><div style="margin: 5px !important;">
economic features and marketing environment;</div>
</li>
<li><div style="margin: 5px !important;">
information and updates as appropriate on NBFC-P2P’s products;</div>
</li>
<li><div style="margin: 5px !important;">
information and updates on major expenditure;</div>
</li>
<li><div style="margin: 5px !important;">
periodic reviews of performance of the NBFC-P2P; and</div>
</li>
<li><div style="margin: 5px !important;">
report periodically about implementation of strategic initiatives and plans;</div>
</li>
</ol>
<div style="font-size: 13px; margin: 5px;">
(iv) the NBFC-P2P shall communicate outcome of Board deliberations to Directors and concerned personnel and prepare and circulate minutes of the meeting of Board to Directors in a timely manner and to the extent possible within two business days of the date of conclusion of the Board meeting; and</div>
<div style="font-size: 13px; margin: 5px;">
(v) advise the Director about the levels of authority delegated in matters placed before the Board.</div>
<div style="font-size: 13px; margin: 5px;">
4. The NBFC-P2P shall provide to the director periodic reports on the functioning of internal control system including effectiveness thereof.</div>
<div style="font-size: 13px; margin: 5px;">
5. The NBFC-P2P shall appoint a compliance officer who shall be a senior executive reporting to the Board and be responsible for setting forth policies and procedures and shall monitor adherence to the applicable laws and regulations and policies and procedures including but not limited to directions of Reserve Bank of India and other concerned statutory and governmental authorities.</div>
<div style="font-size: 13px; margin: 5px;">
6. The Director shall not assign, transfer, sublet or encumber his / her office and his / her rights and obligations as director of the NBFC-P2P to any third party provided that nothing herein contained shall be construed to prohibit delegation of any authority, power, function or delegation by the Board or any committee thereof subject to applicable laws and regulations including Memorandum and Articles of Association of the NBFC-P2P.</div>
<div style="font-size: 13px; margin: 5px;">
7.The failure on the part of either party hereto to perform, discharge, observe or comply with any obligation or duty shall not be deemed to be a waiver thereof nor shall it operate as a bar to the performance, observance, discharge or compliance thereof at any time or times thereafter.</div>
<div style="font-size: 13px; margin: 5px;">
8. Any and all amendments and / or supplements and / or alterations to this Deed of Covenants shall be valid and effectual only if in writing and signed by the Director and the duly authorised representative of the NBFC-P2P.</div>
<div style="font-size: 13px; margin: 5px;">
9. This Deed of Covenants has been executed in duplicate and both the copies shall be deemed to be originals.</div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
IN WITNESS WHEREOF THE PARTIES HAVE DULY EXECUTED THIS AGREEMENT ON THE DAY, MONTH AND YEAR FIRST ABOVE WRITTEN.</div>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="td" style="border-collapse: collapse; border-color: rgb(239, 209, 170); color: black; font-size: 13px; text-align: justify; width: 75%;"><tbody>
<tr style="height: auto !important;"><td style="border-collapse: collapse; border: 1px solid rgb(239, 209, 170) !important; font-size: 13px !important; height: auto !important; padding-left: 3px; padding-right: 3px;" width="433">For the NBFC-P2P</td><td style="border-collapse: collapse; border: 1px solid rgb(239, 209, 170) !important; font-size: 13px !important; height: auto !important; padding-left: 3px; padding-right: 3px;" width="452">Director</td></tr>
<tr style="height: auto !important;"><td colspan="2" style="border-collapse: collapse; border: 1px solid rgb(239, 209, 170) !important; font-size: 13px !important; height: auto !important; padding-left: 3px; padding-right: 3px;">By …………………..</td></tr>
<tr style="height: auto !important;"><td style="border-collapse: collapse; border: 1px solid rgb(239, 209, 170) !important; font-size: 13px !important; height: auto !important; padding-left: 3px; padding-right: 3px;" width="433">Name:</td><td style="border-collapse: collapse; border: 1px solid rgb(239, 209, 170) !important; font-size: 13px !important; height: auto !important; padding-left: 3px; padding-right: 3px;">Name:</td></tr>
<tr style="height: auto !important;"><td style="border-collapse: collapse; border: 1px solid rgb(239, 209, 170) !important; font-size: 13px !important; height: auto !important; padding-left: 3px; padding-right: 3px;" width="433">Title:</td><td style="border-collapse: collapse; border: 1px solid rgb(239, 209, 170) !important; font-size: 13px !important; height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td style="border-collapse: collapse; border: 1px solid rgb(239, 209, 170) !important; font-size: 13px !important; height: auto !important; padding-left: 3px; padding-right: 3px;" width="433">In the presence of:</td><td style="border-collapse: collapse; border: 1px solid rgb(239, 209, 170) !important; font-size: 13px !important; height: auto !important; padding-left: 3px; padding-right: 3px;"></td></tr>
<tr style="height: auto !important;"><td style="border-collapse: collapse; border: 1px solid rgb(239, 209, 170) !important; font-size: 13px !important; height: auto !important; padding-left: 3px; padding-right: 3px;" width="433">1.</td><td style="border-collapse: collapse; border: 1px solid rgb(239, 209, 170) !important; font-size: 13px !important; height: auto !important; padding-left: 3px; padding-right: 3px;">2. …………………….</td></tr>
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<a href="https://www.blogger.com/null" id="AN6" style="background: none 0px 0px repeat scroll rgba(0, 0, 0, 0); line-height: 20px;"></a><span style="color: green;">Annex VI</span><br />
<span style="color: green;"><br /></span></div>
<div align="center" class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
<span style="color: green;">Directions on Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFC-P2P</span></div>
<div class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
<span style="color: green;">1. Introduction</span></div>
<div style="font-size: 13px; margin: 5px;">
<span style="color: green;">1.1 'Outsourcing' is defined as the NBFC’s use of a third party (either an affiliated entity within a corporate group or an entity that is external to the corporate group) to perform activities on a continuing basis that would normally be undertaken by the NBFC itself, now or in the future.</span></div>
<div style="font-size: 13px; margin: 5px;">
<span style="color: green;">‘Continuing basis' includes agreements for a limited period.</span></div>
<div style="font-size: 13px; margin: 5px;">
<span style="color: green;">1.2 NBFCs have been outsourcing various activities and are hence exposed to various risks as detailed in para 5.3. Further, the outsourced activities are to be brought within regulatory purview to a) protect the interest of the customers of NBFCs and b) to ensure that the NBFC concerned and the Reserve Bank of India have access to all relevant books, records and information available with service provider. Typically outsourced financial services include applications processing (loan origination, credit card), document processing, marketing and research, supervision of loans, data processing and back office related activities, besides others.</span></div>
<div style="font-size: 13px; margin: 5px;">
<span style="color: green;">1.3 Some key risks in outsourcing are Strategic Risk, Reputation Risk, Compliance Risk, Operational Risk, Legal Risk, Exit Strategy Risk, Counterparty Risk, Country Risk, Contractual Risk, Access Risk, Concentration and Systemic Risk. The failure of a service provider in providing a specified service, a breach in security/ confidentiality, or non-compliance with legal and regulatory requirements by the service provider can lead to financial losses or loss of reputation for the NBFC and could also lead to systemic risks.</span></div>
<div style="font-size: 13px; margin: 5px;">
<span style="color: green;">1.4 It is therefore imperative for the NBFC outsourcing its activities to ensure sound and responsive risk management practices for effective oversight, due diligence and management of risks arising from such outsourced activities. The directions are applicable to material outsourcing arrangements as explained in para 3 which may be entered into by an NBFC with a service provider located in India or elsewhere. The service provider may either be a member of the group/ conglomerate to which the NBFC belongs, or an unrelated party.</span></div>
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<span style="color: green;">1.5 The underlying principles behind these directions are that the regulated entity shall ensure that outsourcing arrangements neither diminish its ability to fulfil its obligations to customers and RBI nor impede effective supervision by RBI. NBFCs, therefore, have to take steps to ensure that the service provider employs the same high standard of care in performing the services as is expected to be employed by the NBFCs, if the activities were conducted within the NBFCs and not outsourced. Accordingly, NBFCs shall not engage in outsourcing that would result in their internal control, business conduct or reputation being compromised or weakened.</span></div>
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<span style="color: green;">1.6 (i) These directions are concerned with managing risks in outsourcing of financial services and are not applicable to technology-related issues and activities not related to financial services, such as usage of courier, catering of staff, housekeeping and janitorial services, security of the premises, movement and archiving of records, etc. NBFCs which desire to outsource financial services would not require prior approval from RBI. However, such arrangements would be subject to on-site/ off- site monitoring and inspection/ scrutiny by RBI.</span></div>
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<span style="color: green;">(ii) In regard to outsourced services relating to credit cards, RBI's detailed instructions contained in its circular on credit card activities vide DBOD.FSD.BC.49/24.01.011/2005-06 dated November 21, 2005 would be applicable.</span></div>
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<span style="color: green;">2. Activities that shall not be outsourced</span></div>
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<span style="color: green;">NBFCs which choose to outsource financial services shall, however, not outsource core management functions including Internal Audit, Strategic and Compliance functions and decision-making functions such as determining compliance with KYC norms for opening deposit accounts, according sanction for loans (including retail loans) and management of investment portfolio. However, for NBFCs in a group/conglomerate, these functions may be outsourced within the group subject to compliance with instructions in Para 6.Further, while internal audit function itself is a management process, the internal auditors can be on contract.</span></div>
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<span style="color: green;">3. Material Outsourcing</span></div>
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<span style="color: green;">For the purpose of these directions, material outsourcing arrangements are those which, if disrupted, have the potential to significantly impact the business operations, reputation, profitability or customer service. Materiality of outsourcing would be based on:</span></div>
<ul style="font-size: 13px; margin: 1em 0px; padding: 0px 0px 0px 65px;">
<li><div style="margin: 5px !important;">
<span style="color: green;">the level of importance to the NBFC of the activity being outsourced as well as the significance of the risk posed by the same;</span></div>
</li>
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<span style="color: green;">the potential impact of the outsourcing on the NBFC on various parameters such as earnings, solvency, liquidity, funding capital and risk profile;</span></div>
</li>
<li><div style="margin: 5px !important;">
<span style="color: green;">the likely impact on the NBFC’s reputation and brand value, and ability to achieve its business objectives, strategy and plans, should the service provider fail to perform the service;</span></div>
</li>
<li><div style="margin: 5px !important;">
<span style="color: green;">the cost of the outsourcing as a proportion of total operating costs of the NBFC;</span></div>
</li>
<li><div style="margin: 5px !important;">
<span style="color: green;">the aggregate exposure to that particular service provider, in cases where the NBFC outsources various functions to the same service provider and</span></div>
</li>
<li><div style="margin: 5px !important;">
<span style="color: green;">the significance of activities outsourced in context of customer service and protection.</span></div>
</li>
</ul>
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<span style="color: green;">4. NBFC's role and Regulatory and Supervisory Requirements</span></div>
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<span style="color: green;">4.1 The outsourcing of any activity by NBFC does not diminish its obligations, and those of its Board and senior management, who have the ultimate responsibility for the outsourced activity. NBFCs would therefore be responsible for the actions of their service provider including Direct Sales Agents/ Direct Marketing Agents and recovery agents and the confidentiality of information pertaining to the customers that is available with the service provider. NBFCs shall retain ultimate control of the outsourced activity.</span></div>
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<span style="color: green;">4.2 It is imperative for the NBFC, when performing its due diligence in relation to outsourcing, to consider all relevant laws, regulations, guidelines and conditions of approval, licensing or registration.</span></div>
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<span style="color: green;"></span></div>
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<span style="color: green;">4.3 Outsourcing arrangements shall not affect the rights of a customer against the NBFC, including the ability of the customer to obtain redress as applicable under relevant laws. In cases where the customers are required to deal with the service providers in the process of dealing with the NBFC, NBFCs shall incorporate a clause in the relative product literature/ brochures, etc., stating that they may use the services of agents in sales/ marketing etc. of the products. The role of agents may be indicated in broad terms.</span></div>
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<span style="color: green; font-size: 13px;">4.4 The service provider shall not impede or interfere with the ability of the NBFC to effectively oversee and manage its activities nor shall it impede the Reserve Bank of India in carrying out its supervisory functions and objectives.</span></div>
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<span style="color: green; font-size: 13px;">4.5 NBFCs need to have a robust grievance redress mechanism, which in no way shall be compromised on account of outsourcing.</span></div>
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</span>
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<span style="color: green; font-size: 13px;">4.6 The service provider, if not a group company of the NBFC, shall not be owned or controlled by any director of the NBFC or their relatives; these terms have the same meaning as assigned under Companies Act, 2013.</span></div>
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5. Risk Management practices for Outsourced Financial Services</div>
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5.1 Outsourcing Policy</div>
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An NBFC intending to outsource any of its financial activities shall put in place a comprehensive outsourcing policy, approved by its Board, which incorporates, inter alia, criteria for selection of such activities as well as service providers, delegation of authority depending on risks and materiality and systems to monitor and review the operations of these activities.</div>
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5.2 Role of the Board and Senior Management</div>
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5.2.1 Role of the Board</div>
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The Board of the NBFC, or a Committee of the Board to which powers have been delegated shall be responsible <em>inter alia</em> for the following:</div>
<div style="margin: 5px !important;">
i. approving a framework to evaluate the risks and materiality of all existing and prospective outsourcing and the policies that apply to such arrangements;</div>
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ii. laying down appropriate approval authorities for outsourcing depending on risks and materiality;</div>
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iii. setting up suitable administrative framework of senior management for the purpose of these directions;</div>
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iv. undertaking regular review of outsourcing strategies and arrangements for their continued relevance, and safety and soundness and</div>
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v. deciding on business activities of a material nature to be outsourced, and approving such arrangements.</div>
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5.2.2 Responsibilities of the Senior Management</div>
<div style="margin: 5px !important;">
i. Evaluating the risks and materiality of all existing and prospective outsourcing, based on the framework approved by the Board;</div>
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ii. developing and implementing sound and prudent outsourcing policies and procedures commensurate with the nature, scope and complexity of the outsourcing activity;</div>
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iii. reviewing periodically the effectiveness of policies and procedures;</div>
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iv. communicating information pertaining to material outsourcing risks to the Board in a timely manner;</div>
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v. ensuring that contingency plans, based on realistic and probable disruptive scenarios, are in place and tested;</div>
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vi. ensuring that there is independent review and audit for compliance with set policies and</div>
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vii. undertaking periodic review of outsourcing arrangements to identify new material outsourcing risks as they arise.</div>
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5.3 Evaluation of the Risks</div>
<div style="margin: 5px !important;">
The NBFCs shall evaluate and guard against the following risks in outsourcing:</div>
<div style="margin: 5px !important;">
i. Strategic Risk – Where the service provider conducts business on its own behalf, inconsistent with the overall strategic goals of the NBFC.</div>
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ii. Reputation Risk – Where the service provided is poor and customer interaction is not consistent with the overall standards expected of the NBFC.</div>
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iii. Compliance Risk – Where privacy, consumer and prudential laws are not adequately complied with by the service provider.</div>
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iv. Operational Risk- Arising out of technology failure, fraud, error, inadequate financial capacity to fulfil obligations and/ or to provide remedies.</div>
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v. Legal Risk – Where the NBFC is subjected to fines, penalties, or punitive damages resulting from supervisory actions, as well as private settlements due to omissions and commissions of the service provider.</div>
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vi. Exit Strategy Risk – Where the NBFC is over-reliant on one firm, the loss of relevant skills in the NBFC itself preventing it from bringing the activity back in-house and where NBFC has entered into contracts that make speedy exits prohibitively expensive.</div>
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vii. Counter party Risk – Where there is inappropriate underwriting or credit assessments.</div>
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viii. Contractual Risk – Where the NBFC may not have the ability to enforce the contract.</div>
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ix. Concentration and Systemic Risk – Where the overall industry has considerable exposure to one service provider and hence the NBFC may lack control over the service provider.</div>
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x. Country Risk – Due to the political, social or legal climate creating added risk.</div>
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5.4 Evaluating the Capability of the Service Provider</div>
<div style="margin: 5px !important;">
5.4.1 In considering or renewing an outsourcing arrangement, appropriate due diligence shall be performed to assess the capability of the service provider to comply with obligations in the outsourcing agreement. Due diligence shall take into consideration qualitative and quantitative, financial, operational and reputational factors. NBFCs shall consider whether the service providers' systems are compatible with their own and also whether their standards of performance including in the area of customer service are acceptable to it. NBFCs shall also consider, while evaluating the capability of the service provider, issues relating to undue concentration of outsourcing arrangements with a single service provider. Where possible, the NBFC shall obtain independent reviews and market feedback on the service provider to supplement its own findings.</div>
<div style="margin: 5px !important;">
5.4.2 Due diligence shall involve an evaluation of all available information about the service provider, including but not limited to the following:</div>
<div style="margin: 5px !important;">
i. past experience and competence to implement and support the proposed activity over the contracted period;</div>
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ii. financial soundness and ability to service commitments even under adverse conditions;</div>
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iii. business reputation and culture, compliance, complaints and outstanding or potential litigation;</div>
<div style="margin: 5px !important;">
iv. security and internal control, audit coverage, reporting and monitoring environment, business continuity management and</div>
<div style="margin: 5px !important;">
v. ensuring due diligence by service provider of its employees.</div>
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5.5 The Outsourcing Agreement</div>
<div style="margin: 5px !important;">
The terms and conditions governing the contract between the NBFC and the service provider shall be carefully defined in written agreements and vetted by NBFC's legal counsel on their legal effect and enforceability. Every such agreement shall address the risks and risk mitigation strategies. The agreement shall be sufficiently flexible to allow the NBFC to retain an appropriate level of control over the outsourcing and the right to intervene with appropriate measures to meet legal and regulatory obligations. The agreement shall also bring out the nature of legal relationship between the parties - i.e. whether agent, principal or otherwise. Some of the key provisions of the contract shall be the following:</div>
<div style="margin: 5px !important;">
i. the contract shall clearly define what activities are going to be outsourced including appropriate service and performance standards;</div>
<div style="margin: 5px !important;">
ii. the NBFC must ensure it has the ability to access all books, records and information relevant to the outsourced activity available with the service provider;</div>
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iii. the contract shall provide for continuous monitoring and assessment by the NBFC of the service provider so that any necessary corrective measure can be taken immediately;</div>
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iv. a termination clause and minimum period to execute a termination provision, if deemed necessary, shall be included;</div>
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v. controls to ensure customer data confidentiality and service providers' liability in case of breach of security and leakage of confidential customer related information shall be incorporated;</div>
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vi. there must be contingency plans to ensure business continuity;</div>
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vii. the contract shall provide for the prior approval/ consent by the NBFC of the use of subcontractors by the service provider for all or part of an outsourced activity;</div>
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viii. it shall provide the NBFC with the right to conduct audits on the service provider whether by its internal or external auditors, or by agents appointed to act on its behalf and to obtain copies of any audit or review reports and findings made on the service provider in conjunction with the services performed for the NBFC;</div>
<div style="margin: 5px !important;">
ix. outsourcing agreements shall include clauses to allow the Reserve Bank of India or persons authorised by it to access the NBFC's documents, records of transactions, and other necessary information given to, stored or processed by the service provider within a reasonable time;</div>
<div style="margin: 5px !important;">
x. outsourcing agreement shall also include a clause to recognise the right of the Reserve Bank to cause an inspection to be made of a service provider of an NBFC and its books and account by one or more of its officers or employees or other persons;</div>
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xi. the outsourcing agreement shall also provide that confidentiality of customer's information shall be maintained even after the contract expires or gets terminated and</div>
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xii. the NBFC shall have necessary provisions to ensure that the service provider preserves documents as required by law and take suitable steps to ensure that its interests are protected in this regard even post termination of the services.</div>
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5.6 Confidentiality and Security</div>
<div style="margin: 5px !important;">
5.6.1 Public confidence and customer trust in the NBFC is a prerequisite for the stability and reputation of the NBFC. Hence the NBFC shall seek to ensure the preservation and protection of the security and confidentiality of customer information in the custody or possession of the service provider.</div>
<div style="margin: 5px !important;">
5.6.2 Access to customer information by staff of the service provider shall be on 'need to know' basis i.e., limited to those areas where the information is required in order to perform the outsourced function.</div>
<div style="margin: 5px !important;">
5.6.3 The NBFC shall ensure that the service provider is able to isolate and clearly identify the NBFC's customer information, documents, records and assets to protect the confidentiality of the information. In instances, where service provider acts as an outsourcing agent for multiple NBFCs, care shall be taken to build strong safeguards so that there is no comingling of information / documents, records and assets.</div>
<div style="margin: 5px !important;">
5.6.4 The NBFC shall review and monitor the security practices and control processes of the service provider on a regular basis and require the service provider to disclose security breaches.</div>
<div style="margin: 5px !important;">
5.6.5 The NBFC shall immediately notify RBI in the event of any breach of security and leakage of confidential customer related information. In these eventualities, the NBFC would be liable to its customers for any damages.</div>
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5.7 Responsibilities of Direct Sales Agents (DSA)/ Direct Marketing Agents (DMA)/ Recovery Agents</div>
<div style="margin: 5px !important;">
5.7.1 NBFCs shall ensure that the DSA/ DMA/ Recovery Agents are properly trained to handle their responsibilities with care and sensitivity, particularly aspects such as soliciting customers, hours of calling, privacy of customer information and conveying the correct terms and conditions of the products on offer, etc.</div>
<div style="margin: 5px !important;">
5.7.2 NBFCs shall put in place a board approved Code of conduct for DSA/ DMA/ Recovery Agents, and obtain their undertaking to abide by the code. In addition, Recovery Agents shall adhere to extant instructions on Fair Practices Code for NBFCs as also their own code for collection of dues and repossession of security. It is essential that the Recovery Agents refrain from action that could damage the integrity and reputation of the NBFC and that they observe strict customer confidentiality.</div>
<div style="margin: 5px !important;">
5.7.3 The NBFC and their agents shall not resort to intimidation or harassment of any kind, either verbal or physical, against any person in their debt collection efforts, including acts intended to humiliate publicly or intrude the privacy of the debtors' family members, referees and friends, making threatening and anonymous calls or making false and misleading representations.</div>
<div class="head" style="font-weight: bold; margin: 5px !important;">
5.8 Business Continuity and Management of Disaster Recovery Plan</div>
<div style="margin: 5px !important;">
5.8.1 An NBFC shall require its service providers to develop and establish a robust framework for documenting, maintaining and testing business continuity and recovery procedures. NBFCs need to ensure that the service provider periodically tests the Business Continuity and Recovery Plan and may also consider occasional joint testing and recovery exercises with its service provider.</div>
<div style="margin: 5px !important;">
5.8.2 In order to mitigate the risk of unexpected termination of the outsourcing agreement or liquidation of the service provider, NBFCs shall retain an appropriate level of control over their outsourcing and the right to intervene with appropriate measures to continue its business operations in such cases without incurring prohibitive expenses and without any break in the operations of the NBFC and its services to the customers.</div>
<div style="margin: 5px !important;">
5.8.3 In establishing a viable contingency plan, NBFCs shall consider the availability of alternative service providers or the possibility of bringing the outsourced activity back in-house in an emergency and the costs, time and resources that would be involved.</div>
<div style="margin: 5px !important;">
5.8.4 Outsourcing often leads to the sharing of facilities operated by the service provider. The NBFC shall ensure that service providers are able to isolate the NBFC's information, documents and records, and other assets. This is to ensure that in appropriate situations, all documents, records of transactions and information given to the service provider, and assets of the NBFC, can be removed from the possession of the service provider in order to continue its business operations, or deleted, destroyed or rendered unusable.</div>
<div class="head" style="font-weight: bold; margin: 5px !important;">
5.9 Monitoring and Control of Outsourced Activities</div>
<div style="margin: 5px !important;">
5.9.1 The NBFC shall have in place a management structure to monitor and control its outsourcing activities. It shall ensure that outsourcing agreements with the service provider contain provisions to address their monitoring and control of outsourced activities.</div>
<div style="margin: 5px !important;">
5.9.2 A central record of all material outsourcing that is readily accessible for review by the Board and senior management of the NBFC shall be maintained. The records shall be updated promptly and half yearly reviews shall be placed before the Board or Risk Management Committee.</div>
<div style="margin: 5px !important;">
5.9.3 Regular audits by either the internal auditors or external auditors of the NBFC shall assess the adequacy of the risk management practices adopted in overseeing and managing the outsourcing arrangement, the NBFC's compliance with its risk management framework and the requirements of these directions.</div>
<div style="margin: 5px !important;">
5.9.4 NBFCs shall at least on an annual basis, review the financial and operational condition of the service provider to assess its ability to continue to meet its outsourcing obligations. Such due diligence reviews, which can be based on all available information about the service provider shall highlight any deterioration or breach in performance standards, confidentiality and security, and in business continuity preparedness.</div>
<div style="margin: 5px !important;">
5.9.5 In the event of termination of the outsourcing agreement for any reason in cases where the service provider deals with the customers, the same shall be publicized by displaying at a prominent place in the branch, posting it on the web-site, and informing the customers so as to ensure that the customers do not continue to deal with the service provider.</div>
<div style="margin: 5px !important;">
5.9.6 Certain cases, like outsourcing of cash management, might involve reconciliation of transactions between the NBFC, the service provider and its sub-contractors. In such cases, NBFCs shall ensure that reconciliation of transactions between the NBFC and the service provider (and/ or its sub-contractor), are carried out in a timely manner. An ageing analysis of entries pending reconciliation with outsourced vendors shall be placed before the Audit Committee of the Board (ACB) and NBFCs shall make efforts to reduce the old outstanding items therein at the earliest.</div>
<div style="margin: 5px !important;">
5.9.7 A robust system of internal audit of all outsourced activities shall also be put in place and monitored by the ACB of the NBFC.</div>
<div class="head" style="font-weight: bold; margin: 5px !important;">
5.10 Redress of Grievances related to Outsourced Services</div>
<div style="margin: 5px !important;">
i. NBFCs shall constitute Grievance Redressal Machinery as contained in RBI’s circular on Grievance Redressal Mechanism vide DNBS.CC.PD.No.320/03.10.01/2012-13 dated February 18, 2013. At the operational level, all NBFCs shall display the name and contact details (Telephone/ Mobile nos. as also email address) of the Grievance Redressal Officer prominently at their branches/ places where business is transacted. The designated officer shall ensure that genuine grievances of customers are redressed promptly without involving delay. It shall be clearly indicated that NBFCs' Grievance Redressal Machinery will also deal with the issue relating to services provided by the outsourced agency.</div>
<div style="margin: 5px !important;">
ii. Generally, a time limit of 30 days may be given to the customers for preferring their complaints/ grievances. The grievance redressal procedure of the NBFC and the time frame fixed for responding to the complaints shall be placed on the NBFC's website.</div>
<div class="head" style="font-weight: bold; margin: 5px !important;">
5.11 Reporting of transactions to FIU or other competent authorities</div>
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NBFCs would be responsible for making Currency Transactions Reports and Suspicious Transactions Reports to FIU or any other competent authority in respect of the NBFCs' customer related activities carried out by the service providers.</div>
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6. Outsourcing within a Group/ Conglomerate</div>
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6.1 In a group structure, NBFCs may have back-office and service arrangements/ agreements with group entities e.g. sharing of premises, legal and other professional services, hardware and software applications, centralize back-office functions, outsourcing certain financial services to other group entities, etc. Before entering into such arrangements with group entities, NBFCs shall have a Board approved policy and also service level agreements/arrangements with their group entities, which shall also cover demarcation of sharing resources i.e. premises, personnel, etc. Moreover the customers shall be informed specifically about the company which is actually offering the product/service, wherever there are multiple group entities involved or any cross selling observed.</div>
<div style="margin: 5px !important;">
6.2 While entering into such arrangements, NBFCs shall ensure that these:</div>
<div style="margin: 5px !important;">
a. are appropriately documented in written agreements with details like scope of services, charges for the services and maintaining confidentiality of the customer's data;</div>
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b. do not lead to any confusion to the customers on whose products/services they are availing by clear physical demarcation of the space where the activities of the NBFC and those of its other group entities are undertaken;</div>
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c. do not compromise the ability to identify and manage risk of the NBFC on a stand-alone basis;</div>
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d. do not prevent the RBI from being able to obtain information required for the supervision of the NBFC or pertaining to the group as a whole; and</div>
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e. incorporate a clause under the written agreements that there is a clear obligation for any service provider to comply with directions given by the RBI in relation to the activities of the NBFC.</div>
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6.3 NBFCs shall ensure that their ability to carry out their operations in a sound fashion would not be affected if premises or other services (such as IT systems, support staff) provided by the group entities become unavailable.</div>
<div style="margin: 5px !important;">
6.4 If the premises of the NBFC are shared with the group entities for the purpose of cross-selling, NBFCs shall take measures to ensure that the entity's identification is distinctly visible and clear to the customers. The marketing brochure used by the group entity and verbal communication by its staff / agent in the NBFCs premises shall mention nature of arrangement of the entity with the NBFC so that the customers are clear on the seller of the product.</div>
<div style="margin: 5px !important;">
6.5 NBFCs shall not publish any advertisement or enter into any agreement stating or suggesting or giving tacit impression that they are in any way responsible for the obligations of its group entities.</div>
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6.6 The risk management practices expected to be adopted by an NBFC while outsourcing to a related party (i.e. party within the Group / Conglomerate) would be identical to those specified in Para 5 of this directions.</div>
<div class="head" style="font-weight: bold; margin: 5px !important;">
7. Off-shore outsourcing of Financial Services</div>
<div style="margin: 5px !important;">
7.1 The engagement of service providers in a foreign country exposes an NBFC to country risk -economic, social and political conditions and events in a foreign country that may adversely affect the NBFC. Such conditions and events could prevent the service provider from carrying out the terms of its agreement with the NBFC. To manage the country risk involved in such outsourcing activities, the NBFC shall take into account and closely monitor government policies and political, social, economic and legal conditions in countries where the service provider is based, both during the risk assessment process and on a continuous basis, and establish sound procedures for dealing with country risk problems. This includes having appropriate contingency and exit strategies. In principle, arrangements shall only be entered into with parties operating in jurisdictions generally upholding confidentiality clauses and agreements. The governing law of the arrangement shall also be clearly specified.</div>
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7.2 The activities outsourced outside India shall be conducted in a manner so as not to hinder efforts to supervise or reconstruct the India activities of the NBFC in a timely manner.</div>
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7.3 As regards the off-shore outsourcing of financial services relating to Indian Operations, NBFCs shall additionally ensure that</div>
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a) Where the off-shore service provider is a regulated entity, the relevant off-shore regulator will neither obstruct the arrangement nor object to RBI inspection visits/ visits of NBFCs internal and external auditors.</div>
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b) The availability of records to management and the RBI will withstand the liquidation of either the offshore custodian or the NBFC in India.</div>
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c) The regulatory authority of the offshore location does not have access to the data relating to Indian operations of the NBFC simply on the ground that the processing is being undertaken there (not applicable if off shore processing is done in the home country of the NBFC).</div>
<div style="margin: 5px !important;">
d) The jurisdiction of the courts in the off shore location where data is maintained does not extend to the operations of the NBFC in India on the strength of the fact that the data is being processed there even though the actual transactions are undertaken in India and</div>
<div style="margin: 5px !important;">
e) All original records continue to be maintained in India.</div>
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<div align="right" class="head" style="font-size: 13px; font-weight: bold; margin: 5px;">
<span style="color: brown;"><a href="https://www.blogger.com/null" id="AN7" style="background: none 0px 0px repeat scroll rgba(0, 0, 0, 0); line-height: 20px;"></a>Annex VII</span></div>
<div class="head" style="color: brown; font-size: 13px; font-weight: bold; margin: 5px;">
Ombudsman Scheme for Non-Banking Financial Companies, 2018 - Appointment of the Nodal Officer/Principal Nodal Officer</div>
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The Reserve Bank of India (RBI) has brought into operation on February 23, 2018, the Ombudsman Scheme for Non-Banking Financial Companies, 2018 (The Scheme). The Scheme is available on the RBI website http://www.rbi.org.in. The Non-Banking Financial Companies (NBFCs) that are covered under the Scheme (covered NBFCs) are advised to ensure that a suitable mechanism exists for receiving and addressing complaints from their customers with specific emphasis on resolving such complaints expeditiously and in a fair manner.</div>
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2. In this connection attention is invited to para 15.3 of the Scheme in terms of which</div>
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<li><div style="margin: 5px !important;">
The NBFCs covered by the Scheme shall appoint Nodal Officers (NOs) at their Head/Registered/Regional/Zonal Offices and inform all the Offices of the Ombudsman about the same.</div>
</li>
<li><div style="margin: 5px !important;">
The NOs so appointed shall be responsible for representing the company and furnishing information to the Ombudsman in respect of complaints filed against the NBFC.</div>
</li>
<li><div style="margin: 5px !important;">
Wherever more than one zone/region of a NBFC is falling within the jurisdiction of an Ombudsman, one of the NOs shall be designated as the ‘Principal Nodal Officer’ (PNO) for such zones or regions.</div>
</li>
</ol>
<div style="color: brown; font-size: 13px; margin: 5px;">
3. The PNO/NO shall be responsible, inter alia, for representing the covered NBFC before the Ombudsman and the Appellate Authority under the Scheme. The PNO/NO appointed at the Head Office of the NBFC shall be responsible for coordinating and liaising with the Customer Education and Protection Department (CEPD), RBI, Central Office. Covered NBFCs are at liberty to appoint the Grievance Redressal Officer (GRO) identified by the respective NBFCs in terms of extant guidelines on Grievance Redressal Mechanism, applicable to them, as the PNO or NO, provided that the officer concerned is sufficiently senior in the organisation. Where there is more than one Nodal Officer for a zone, the PNO shall be responsible for representing the company and furnishing information to the Ombudsman in respect of complaints filed against the NBFC.</div>
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4. With a view to strengthening the Grievances Redressal System and enhancing its effectiveness, the NBFCs shall take necessary steps as outlined above. Further, the name and details of the PNO/NO at the Head Office may be forwarded to the Chief General Manager, Consumer Education and Protection Department, Reserve Bank of India, Central Office, 1st Floor, Amar Building, Sir P.M. Road, Mumbai 400 001 (<a class="links" href="mailto:cgmcepd@rbi.org.in" style="background: none 0px 0px repeat scroll rgba(0, 0, 0, 0); color: rgb(0, 0, 255) !important; line-height: 20px; text-decoration-line: none;" target="_blank">email</a>). The names and contact details of PNOs/NOs of the zones may be forwarded to the RBI Ombudsman of the concerned zone.</div>
<div class="head" style="color: brown; font-size: 13px; font-weight: bold; margin: 5px;">
Display of Information</div>
<div style="color: brown; font-size: 13px; margin: 5px;">
5. Covered NBFCs shall display prominently, for the benefit of their customers, at their branches/ places where business is transacted, the name and contact details (Telephone/ Mobile numbers as also email addresses) of the PNOs/NOs/GROs and the name and contact details of the Ombudsman, who can be approached by the customer.</div>
<div style="color: brown; font-size: 13px; margin: 5px;">
6. Covered NBFCs shall prominently display the salient features of the Scheme (in English, Hindi and Vernacular language) at all their offices and branches in such a manner that a person visiting the office or branch has easy access to the information. A template for the salient features of the Scheme to be displayed is enclosed for reference. (Appendix A)</div>
<div style="color: brown; font-size: 13px; margin: 5px;">
7. All the above details along with a copy of the Scheme should also be prominently displayed on the web-site of covered NBFCs.</div>
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<br /></div>
<div style="box-sizing: border-box; font-family: arial, serif; margin-bottom: 20px; padding-bottom: 0px; padding-top: 0px; text-align: center;">
<span style="color: #38761d; font-family: "trebuchet ms" , sans-serif; font-size: x-large;"><b>RBI Compliance Group</b></span></div>
<div style="box-sizing: border-box; color: brown; font-family: arial, serif; font-size: 13px; margin-bottom: 20px; padding-bottom: 0px; padding-top: 0px; text-align: center;">
<div style="font-family: arial, serif; font-size: 14.3px;">
<span style="color: #444444;"><b>Ozg Compliance & Regulatory Practice Center</b></span></div>
<div>
<br />
<div>
<span style="font-family: "arial" , serif;"><span style="color: #0b5394; font-size: medium;">Email:</span><span style="color: #990000; font-size: medium;"> ask@nbfc.in</span></span></div>
<span style="color: #f1c232; font-family: "arial" , serif; font-size: 14.3px;"></span><br />
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<span style="color: #f1c232; font-family: "arial" , serif; font-size: 14.3px;"></span></div>
<div style="font-family: arial, serif;">
<span style="color: #38761d; font-size: large;"><a href="http://nbfcregistration.com/" style="color: #3366cc; text-decoration-line: none;"><b>nbfcregistration.com</b></a></span></div>
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-28265559660883514722018-08-22T12:59:00.001-07:002018-08-22T12:59:10.033-07:00NBFC Registration Procedure & Checklist
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small;">Any entity desirous of commencing the business of and being registered as NBFC shall apply to RBI for the license (CoR) and must also fulfill the following norms:</span></h2>
<ul style="background-color: white; border: none; box-sizing: border-box; list-style: none; margin: 0px; outline: none; padding: 0px;">
<li style="border: none; box-sizing: border-box; list-style: square; margin: 0px 0px 15px 50px; outline: none; padding: 0px; text-align: justify;"><span style="font-family: "trebuchet ms" , sans-serif;">It should be a company incorporated under Companies Act, 2013.</span></li>
<li style="border: none; box-sizing: border-box; list-style: square; margin: 0px 0px 15px 50px; outline: none; padding: 0px; text-align: justify;"><span style="font-family: "trebuchet ms" , sans-serif;">It should be a company having minimum net owned funds of INR 2 crores.</span></li>
</ul>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: x-large;"><b><br /></b></span>
<span style="font-family: "trebuchet ms" , sans-serif; font-size: x-large;"><b>Where to Make Application?</b></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<ul style="background-color: white; border: none; box-sizing: border-box; list-style: none; margin: 0px; outline: none; padding: 0px;">
<li style="border: none; box-sizing: border-box; list-style: square; margin: 0px 0px 15px 50px; outline: none; padding: 0px; text-align: justify;"><span style="font-family: "trebuchet ms" , sans-serif;">The online application is available on RBI's website (COSMOS).</span></li>
<li style="border: none; box-sizing: border-box; list-style: square; margin: 0px 0px 15px 50px; outline: none; padding: 0px; text-align: justify;"><span style="font-family: "trebuchet ms" , sans-serif;">Hard copy of the application along with attached documents shall be submitted to regional RBI Office.</span></li>
<li style="border: none; box-sizing: border-box; list-style: square; margin: 0px 0px 15px 50px; outline: none; padding: 0px; text-align: justify;"><span style="font-family: "trebuchet ms" , sans-serif;">The license will be granted only after vigilant inspection of the application and documents attached with it.</span></li>
</ul>
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<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif;"><img alt="nbfcregistration.com" height="400" src="https://nidhiregistration.files.wordpress.com/2017/11/88618-22710194_1999728493648742_3703240859832025088_n.jpg?w=1108" width="400" /></span></div>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: x-large;">Checklist for <a href="http://nbfcregistration.com/">NBFC Registration</a>:</span></h2>
<ul style="background-color: white; border: none; box-sizing: border-box; list-style: none; margin: 0px; outline: none; padding: 0px;">
<li style="border: none; box-sizing: border-box; list-style: square; margin: 0px 0px 15px 50px; outline: none; padding: 0px; text-align: justify;"><span style="font-family: "trebuchet ms" , sans-serif;">Certified copy of Certificate of Incorporation issued by the registrar of companies.</span></li>
<li style="border: none; box-sizing: border-box; list-style: square; margin: 0px 0px 15px 50px; outline: none; padding: 0px; text-align: justify;"><span style="font-family: "trebuchet ms" , sans-serif;">Extract of the main object clause in the MOA clearly depicting the financial business.</span></li>
<li style="border: none; box-sizing: border-box; list-style: square; margin: 0px 0px 15px 50px; outline: none; padding: 0px; text-align: justify;"><span style="font-family: "trebuchet ms" , sans-serif;">The Audited balance sheet and Profit & Loss account along with directors & auditors report for the entire period of company's existence, or for last three years, whichever is less.</span></li>
<li style="border: none; box-sizing: border-box; list-style: square; margin: 0px 0px 15px 50px; outline: none; padding: 0px; text-align: justify;"><span style="font-family: "trebuchet ms" , sans-serif;">Copy of the certificate of Director's highest educational and professional qualification.</span></li>
<li style="border: none; box-sizing: border-box; list-style: square; margin: 0px 0px 15px 50px; outline: none; padding: 0px; text-align: justify;"><span style="font-family: "trebuchet ms" , sans-serif;">Copy of Director's experience certificate in the Financial Services Sector (including Banking Sector).</span></li>
<li style="border: none; box-sizing: border-box; list-style: square; margin: 0px 0px 15px 50px; outline: none; padding: 0px; text-align: justify;"><span style="font-family: "trebuchet ms" , sans-serif;">Bankers report depicting details of deposits and loans balances as on the date of application and the conduct of the account.</span></li>
</ul>
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<span style="color: #5a5a5a; font-family: "poppins" , sans-serif;"><span style="font-size: 15px;"><br /></span></span></div>
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<div style="background-color: white; box-sizing: border-box; font-family: Arial, serif; font-size: 14.3px; margin-bottom: 20px; padding-bottom: 0px; padding-top: 0px; text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;"><b>RBI Compliance Group</b></span></div>
<div style="background-color: white; box-sizing: border-box; font-family: Arial, serif; margin-bottom: 20px; padding-bottom: 0px; padding-top: 0px; text-align: center;">
<div style="font-family: arial, serif; font-size: 14.3px;">
<span style="color: #444444;"><b>Ozg Compliance & Regulatory Practice Center</b></span></div>
<div>
<br />
<div>
<span style="font-family: "arial" , serif;"><span style="color: #0b5394; font-size: large;">Email:</span><span style="color: #990000; font-size: large;"> ask@nbfc.in</span></span></div>
<span style="color: #f1c232; font-family: "arial" , serif; font-size: 14.3px;"></span><br />
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<br /></div>
<span style="color: #f1c232; font-family: "arial" , serif; font-size: 14.3px;"></span></div>
<div style="font-family: arial, serif;">
<span style="color: #38761d; font-size: x-large;"><a href="http://nbfcregistration.com/"><b>nbfcregistration.com</b></a></span></div>
</div>
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-7925040074228184282018-08-10T02:54:00.001-07:002018-08-10T02:54:38.167-07:00How to Change the Name of NBFC after takeover?
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<blockquote class="tr_bq">
The name of the company may be such which reflects the business activity or it might be something simple & easy. There are abundant factors which are considered while finalizing a suitable name because in Long run the name will be a Brand. Sometimes, there arises a requirement to change the existing name of a Company due to change in its objects, corporate restructurings etc. Whatever might be the reason, Change of the name of a Company can only be done after complying with laws applicable to the Company. The legal provisions and procedure are discussed here in detail.</blockquote>
<blockquote class="tr_bq">
<ul style="box-sizing: inherit; font-family: "varela round", helvetica, arial, sans-serif; font-size: 15px; margin-bottom: 10px; margin-top: 0px; padding-left: 15px;">
<li style="box-sizing: inherit; text-align: justify;">The Altered name should be painted/affixed outside Registered & every office</li>
</ul>
<ul style="box-sizing: inherit; font-family: "varela round", helvetica, arial, sans-serif; font-size: 15px; margin-bottom: 10px; margin-top: 0px; padding-left: 15px;">
<li style="box-sizing: inherit; text-align: justify;">Getting a new Common seal for the Company & make the alteration in every copy of MOA & AOA.</li>
</ul>
<ul style="box-sizing: inherit; font-family: "varela round", helvetica, arial, sans-serif; font-size: 15px; margin-bottom: 10px; margin-top: 0px; padding-left: 15px;">
<li style="box-sizing: inherit; text-align: justify;">Change the stationery with new name stationary viz. Letterheads, Bill heads etc.</li>
</ul>
For alteration in the Name of <a href="http://nbfc.co.in/">NBFC</a> one require a prior approval from RBI and then MCA can allow one to amend the MOA.</blockquote>
<blockquote class="tr_bq">
<ul style="box-sizing: inherit; font-family: "varela round", helvetica, arial, sans-serif; font-size: 15px; margin-bottom: 10px; margin-top: 0px; padding-left: 15px;">
<li style="box-sizing: inherit; text-align: justify;">Name reservation from MCA</li>
</ul>
<ul style="box-sizing: inherit; font-family: "varela round", helvetica, arial, sans-serif; font-size: 15px; margin-bottom: 10px; margin-top: 0px; padding-left: 15px;">
<li style="box-sizing: inherit; text-align: justify;">Notice to RBI for change in Name of the NBFC</li>
</ul>
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<li style="box-sizing: inherit; text-align: justify;">Public notice of change in Name of NBFC</li>
</ul>
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<li style="box-sizing: inherit; text-align: justify;">MGT-14 filing with MCA</li>
</ul>
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<li style="box-sizing: inherit; text-align: justify;">NBFC RBI Compliance </li>
</ul>
</blockquote>
<div style="text-align: center;">
<br /></div>
</div>
<h2 style="box-sizing: inherit; clear: both; font-family: "varela round", helvetica, arial, sans-serif; font-weight: 400; line-height: 1.1; margin-bottom: 10px; margin-top: 20px; text-align: justify;">
<strong style="box-sizing: inherit;"><span style="font-size: large;">Procedure to Change the Name of NBFC?</span></strong></h2>
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<blockquote class="tr_bq">
The Name change procedure of NBFC is very much similar to similar to non-NBFC Company except for the requirement of RBI Approval in advance. Name Change in a company usually is done due to change in business activity of the company. The name change also occurs if there is a change in management of the company. If an <a href="http://nbfc.co.in/">NBFC</a> requires changing its name, it requires passing a special resolution in a board meeting. The minutes of the meeting needs to be submitted to the Ministry of Corporate Affairs (MCA) with the request for name change.</blockquote>
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<h2 style="box-sizing: inherit; clear: both; font-family: "varela round", helvetica, arial, sans-serif; font-weight: 400; line-height: 1.1; margin-bottom: 10px; margin-top: 20px; text-align: justify;">
<strong style="box-sizing: inherit;"><span style="font-size: large;">Step by step Analysis for Change in the Name of NBFC</span></strong></h2>
<ul style="box-sizing: inherit; font-family: "varela round", helvetica, arial, sans-serif; font-size: 15px; margin-bottom: 10px; margin-top: 0px; padding-left: 15px;">
<li style="box-sizing: inherit;"><blockquote class="tr_bq" style="box-sizing: inherit; clear: both; font-size: 18px; font-weight: 400; line-height: 1.1; margin-bottom: 10px; margin-top: 10px; text-align: justify;">
One require prior RBI approval for change in names of NBFC<br />
Rest procedure will be same as a normal private or public limited company</blockquote>
</li>
</ul>
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<li style="box-sizing: inherit;"><h4 style="box-sizing: inherit; clear: both; font-size: 18px; font-weight: 400; line-height: 1.1; margin-bottom: 10px; margin-top: 10px; text-align: justify;">
<strong style="box-sizing: inherit;">Board Resolution</strong></h4>
</li>
</ul>
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<blockquote class="tr_bq">
The board will authorize the change in the name of the <a href="http://nbfc.co.in/">NBFC</a> & authorize a director or company secretary to do the necessary filing with the MCA by consideration of proposal of change of name & determining maximum 6 alternative names. A decision to convene another board meeting for a change of name (after approval) and to make changes in the Memorandum and Articles of Association (MOA & AOA) is made in the same meeting.</blockquote>
</div>
<ul style="box-sizing: inherit; font-family: "varela round", helvetica, arial, sans-serif; font-size: 15px; margin-bottom: 10px; margin-top: 0px; padding-left: 15px;">
<li style="box-sizing: inherit;"><h4 style="box-sizing: inherit; clear: both; font-size: 18px; font-weight: 400; line-height: 1.1; margin-bottom: 10px; margin-top: 10px; text-align: justify;">
<strong style="box-sizing: inherit;">Name Availability</strong></h4>
</li>
</ul>
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<blockquote class="tr_bq">
Check the name availability at MCA and on trademark website. The new name shall be in adherence to the naming guidelines provided in the Companies Act, 2013.</blockquote>
</div>
<ul style="box-sizing: inherit; font-family: "varela round", helvetica, arial, sans-serif; font-size: 15px; margin-bottom: 10px; margin-top: 0px; padding-left: 15px;">
<li style="box-sizing: inherit;"><h4 style="box-sizing: inherit; clear: both; font-size: 18px; font-weight: 400; line-height: 1.1; margin-bottom: 10px; margin-top: 10px; text-align: justify;">
<strong style="box-sizing: inherit;">Filing of INC-1</strong></h4>
</li>
</ul>
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<blockquote class="tr_bq">
The necessary form needs to be filed with ROC with the attachment of RBI NOC and the board resolution as well along with other requirements of the form to get final approval from the concerned ROC.</blockquote>
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<strong style="box-sizing: inherit;">Filing of MGT-14 & INC-24</strong></h4>
</li>
</ul>
<div style="box-sizing: inherit; font-family: "varela round", helvetica, arial, sans-serif; font-size: 15px; margin-bottom: 20px; margin-top: 20px; text-align: justify;">
<blockquote class="tr_bq">
Within 30 days of passing the special resolution for a name change, the company needs to file form MGT-14 with MCA with the attachment of Notice of extraordinary general meeting along with the explanatory statements; certified a true copy of the Special resolution passed; Altered MOA and AOA; and Minutes of the EGM. After filing form MGT-14 you need to file form INC-24 with CG along with Notice of EGM along with the explanatory statements, CTC of Special resolutions, altered MOA & AOA and Minutes of the extraordinary general meeting.</blockquote>
</div>
<ul style="box-sizing: inherit; font-family: "varela round", helvetica, arial, sans-serif; font-size: 15px; margin-bottom: 10px; margin-top: 0px; padding-left: 15px;">
<li style="box-sizing: inherit;"><h4 style="box-sizing: inherit; clear: both; font-size: 18px; font-weight: 400; line-height: 1.1; margin-bottom: 10px; margin-top: 10px; text-align: justify;">
<strong style="box-sizing: inherit;">Final Approval from MCA</strong></h4>
</li>
</ul>
<div style="box-sizing: inherit; font-family: "varela round", helvetica, arial, sans-serif; font-size: 15px; margin-bottom: 20px; margin-top: 20px; text-align: justify;">
<blockquote class="tr_bq">
One needs to file necessary form with ROC with the attachment of RBI NOC as well along with other requirements of the form and get final approval from the concerned ROC. After getting the name approval from ROC, the original Certificate of Registration as issued by the concerned Reserve Bank of India needs to be surrendered to the same department of Non-Banking’s supervision to get new Certificate of Registrations as Non-Banking Finance Company with new name reissued by the concerned Department.</blockquote>
</div>
<ul style="box-sizing: inherit; font-family: "varela round", helvetica, arial, sans-serif; font-size: 15px; margin-bottom: 10px; margin-top: 0px; padding-left: 15px;">
<li style="box-sizing: inherit;"><h4 style="box-sizing: inherit; clear: both; font-size: 18px; font-weight: 400; line-height: 1.1; margin-bottom: 10px; margin-top: 10px; text-align: justify;">
<strong style="box-sizing: inherit;">Public Notice of change in the Name of NBFC</strong></h4>
</li>
</ul>
<div style="box-sizing: inherit; margin-bottom: 20px; margin-top: 20px; text-align: justify;">
<blockquote class="tr_bq" style="font-family: "varela round", helvetica, arial, sans-serif; font-size: 15px;">
For changing the name of the company, you need to publish an advertisement in the in an English newspaper and in a Vernacular language newspaper where the registered office of the company is situated.</blockquote>
<div style="font-family: "varela round", helvetica, arial, sans-serif; font-size: 15px;">
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<span style="color: #f1c232; font-size: x-large;"><a href="http://rbicompliance.ozg.in/">RBIcompliance.ozg.in</a></span></div>
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-59217644931385105852018-06-19T08:14:00.002-07:002018-06-19T08:14:53.865-07:00Timelines for RBI Regulatory Approval & Permission
<br />
<span style="color: blue;"><span style="font-size: large;">I. Department of Banking Regulation
</span></span><br />
<table align="center" border="0" cellpadding="0" cellspacing="1" class="tablebg" style="width: 90%px;">
<tbody>
<tr class="head">
<th align="center" valign="top" width="10%">Sr. No.</th>
<th align="center" valign="top" width="69%">Description of Regulatory Approval</th>
<th align="center" valign="top" width="21%">Time required </th>
</tr>
<tr>
<td align="center" valign="top">1.</td>
<td valign="top">Private Bank Licence- In principle approval</td>
<td align="center" valign="top">90 days@</td>
</tr>
<tr>
<td align="center" valign="top">2.</td>
<td valign="top">Approval to banks for acquisition/transfer of shares of five per cent or more of paid up equity share capital of the bank</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">3.</td>
<td valign="top">Approval to banks for holding
non-banking assets beyond 7 and up to 12 years, in terms of Section 9 of
Banking Regulation Act, 1949</td>
<td align="center" valign="top">15 days</td>
</tr>
<tr>
<td align="center" valign="top">4.</td>
<td valign="top">Approval to banks for redemption of subordinated debt</td>
<td align="center" valign="top">15 days</td>
</tr>
<tr>
<td align="center" valign="top">5.</td>
<td valign="top">Approval to banks for establishing a
subsidiary/joint venture/associate/making strategic investments in
financial services companies</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">6.</td>
<td valign="top">Approval to banks for offering activities
such as investment advisory services, portfolio management services
or venturing into stock broking, mutual funds, venture capital funds,
insurance or pension management departmentally</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">7.</td>
<td valign="top">Permission to banks for expanding the scope of para-banking activities of the bank/its subsidiary</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">8.</td>
<td valign="top">Permission to banks to retain investments in non-financial services companies beyond the prescribed prudential limits</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">9.</td>
<td valign="top">Approval to foreign banks having their
business in India for substitution of Government / approved
Securities held under Section 11(2)(b) of the Banking Regulation Act,
1949</td>
<td align="center" valign="top">5 days</td>
</tr>
<tr>
<td align="center" valign="top">10.</td>
<td valign="top">Approval to foreign banks having their
business in India for deposit/withdrawal of Government / approved
Securities held under Section 11(2)(b) of the Banking Regulation Act,
1949</td>
<td align="center" valign="top">5 days</td>
</tr>
<tr>
<td align="center" valign="top">11.</td>
<td valign="top">Appointment / re-appointment of whole time
directors (MD & CEO / EDs/ Jt. MDs ) and Part-time Chairmen
(non-whole time directors) in Private Sector Banks, including LABs</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">12.</td>
<td valign="top">Appointment / re-appointment of CEOs of Foreign Banks operating in India</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">13.</td>
<td valign="top">Remuneration, Bonus and Employee Stock
Option(ESOP) of whole time directors (MD & CEO / EDs/ Jt. MDs ) and
Part-time Chairmen (non-whole time directors) of Private Sector
Banks, including LABs</td>
<td align="center" valign="top">60 days</td>
</tr>
<tr>
<td align="center" valign="top">14.</td>
<td valign="top">Remuneration, Bonus and Employee Stock Option of CEOs of Foreign Banks operating in India</td>
<td align="center" valign="top">60 days</td>
</tr>
<tr>
<td align="center" valign="top">15.</td>
<td valign="top">Clearances for appointment of whole time
directors, non-executive chairmen and non-official directors of
public sector banks</td>
<td align="center" valign="top">60 days</td>
</tr>
<tr>
<td align="center" valign="top">16.</td>
<td valign="top">Approval of Annual Banking Outlet
Expansion Plan (ABOEP) in respect of Domestic Scheduled Commercial
Banks (excluding RRBs) for which the general permission has been
withdrawn and for Small Finance Banks, Payment Banks and Local Area
Banks</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">17.</td>
<td valign="top">Advances to banks’ Directors</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">18.</td>
<td valign="top">Staff Incentive Schemes by banks for deposit mobilization</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">19.</td>
<td valign="top">Authorisation for import of gold/silver by banks</td>
<td align="center" valign="top">60 days</td>
</tr>
<tr>
<td align="center" valign="top">20.</td>
<td valign="top">Authorization for opening of banking outlets under approved ABOEP</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td colspan="3" valign="top">@The timeline for issue of
in-principle approval for private sector bank licences commences from
receipt of report from the Independent External Advisory Committee.</td>
</tr>
</tbody></table>
<span style="font-size: small;"><br /></span>
<span style="font-size: small;">
</span><span style="font-size: small;">
</span><br />
<table align="center" border="0" cellpadding="0" cellspacing="1" class="tablebg" style="width: 90%px;"><tbody>
<tr>
<th class="head" colspan="3" valign="top"><div align="center" class="MsoNormal" style="margin-bottom: 3.0pt; mso-layout-grid-align: none; mso-line-height-alt: 11.3pt; tab-stops: 12.0pt 18.0pt 24.0pt 30.0pt 36.0pt 42.0pt; text-align: center;">
<span style="font-weight: normal;"><span lang="EN-US" style="font-size: small;"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law ~</span></span></span></span> Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law ~</span></span></span></span> Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law</span></span></span></span><span style="font-family: "arial" , "sans-serif";"><span style="font-family: "arial" , "sans-serif";"> </span></span></span></span></span></span></div>
<span style="font-weight: normal;"><span style="font-size: small;">
</span></span>
<br />
<div class="MsoNormal" style="margin-bottom: 3pt; text-align: center;">
<span style="font-weight: normal;"><span style="color: blue; font-size: small;"><span lang="EN-US" style="font-family: "arial" , "sans-serif";"> </span><span style="font-size: xx-small;"><span style="font-family: "trebuchet ms" , sans-serif;">Ozg Banking & NBFC Experts | Website: <a href="http://nbfc.co.in/">nbfc.co.in</a> | Email: ask@nbfc.in</span></span></span></span><br />
<br /></div>
</th></tr>
</tbody></table>
<table align="center" border="0" cellpadding="0" cellspacing="1" class="tablebg" style="width: 90%px;"><tbody>
<tr><th class="head" colspan="3" valign="top">Regional Rural Banks</th>
</tr>
<tr>
<td align="center" valign="top">21.</td>
<td valign="top" width="68%">Inclusion in/Exclusion from Second Schedule of RBI Act </td>
<td align="center" valign="top" width="22%">45 days</td>
</tr>
<tr>
<td align="center" valign="top">22.</td>
<td valign="top">Permission for opening of branches/ issue of licence for branches/ service branches/ Regional Offices</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">23.</td>
<td valign="top">Permission for shifting of branches outside the locality/municipal ward at semi-urban/ urban/ metropolitan centres</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">24.</td>
<td valign="top">Permission for conversion of satellite offices/ extension counters into full-fledged branches</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">25.</td>
<td valign="top">Permission for opening of extension counters/ ultra-small branches</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">26.</td>
<td valign="top">Appropriation from the Reserve Fund under Section 17(2) of the BR Act, 1949</td>
<td align="center" valign="top">45 days</td>
</tr>
</tbody></table>
<div align="center" class="paraheader">
<br />
<div align="center" class="MsoNormal" style="margin-bottom: 3.0pt; mso-layout-grid-align: none; mso-line-height-alt: 11.3pt; tab-stops: 12.0pt 18.0pt 24.0pt 30.0pt 36.0pt 42.0pt; text-align: center;">
<span style="font-weight: normal;"><span lang="EN-US" style="font-size: small;"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law ~</span></span></span></span> Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law ~</span></span></span></span> Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law</span></span></span></span><span style="font-family: "arial" , "sans-serif";"><span style="font-family: "arial" , "sans-serif";"> </span></span></span></span></span></span></div>
<span style="font-weight: normal;"><span style="font-size: small;">
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<br />
<br />
<span style="color: blue;"><span style="font-size: large;">II. Department of Banking Supervision</span></span></div>
<table align="center" border="0" cellpadding="0" cellspacing="1" class="tablebg" style="width: 90%px;">
<tbody>
<tr class="head">
<th align="center" valign="top" width="10%">Sr. No.</th>
<th align="center" valign="top" width="67%">Description of Regulatory Approval</th>
<th align="center" valign="top" width="23%">Time required </th>
</tr>
<tr>
<td align="center" rowspan="11" valign="top">1.</td>
<td valign="top">Approval given to banks and Financial Institutions for Statutory Central Auditors and Statutory Branch Auditors</td>
<td align="center" valign="top"></td>
</tr>
<tr>
<td valign="top">i) Public Sector Banks:</td>
<td align="center" valign="top"></td>
</tr>
<tr>
<td valign="top">a) Statutory Central Auditors</td>
<td align="center" valign="top">15 days</td>
</tr>
<tr>
<td valign="top">b) Statutory Branch Auditors</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td valign="top">ii) Private Sector Banks/Foreign Banks:</td>
<td align="center" valign="top"></td>
</tr>
<tr>
<td valign="top">a) Statutory Central Auditors</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td valign="top">b) Statutory Branch Auditors</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td valign="top">iii) Overseas branches of Indian Banks:</td>
<td align="center" valign="top"></td>
</tr>
<tr>
<td valign="top">Statutory Auditors</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td valign="top">iv) Select Financial Institutions: </td>
<td align="center" valign="top"></td>
</tr>
<tr>
<td valign="top">Statutory Auditors</td>
<td align="center" valign="top">21 days</td>
</tr>
</tbody></table>
<div align="center" class="paraheader">
<br />
<br />
<span style="color: blue;"><span style="font-size: large;">III. Department of Currency Management/ Issue Department</span></span></div>
<table align="center" border="0" cellpadding="0" cellspacing="1" class="tablebg" style="width: 90%px;">
<tbody>
<tr class="head">
<th align="center" valign="top" width="10%">Sr. No.</th>
<th align="center" valign="top" width="38%">Description of Regulatory Approval</th>
<th align="center" valign="top" width="52%">Time required</th>
</tr>
<tr>
<td align="center" valign="top">1.</td>
<td valign="top">Opening of currency chests (CCs) by banks </td>
<td valign="top">The Approvals will normally be accorded within 30 days provided the construction conforms to the specifications<br />
<br /></td>
</tr>
</tbody></table>
<div align="center" class="paraheader">
<span style="color: blue;"><span style="font-size: large;">IV. Department of Non-Banking Regulation</span></span></div>
<table align="center" border="0" cellpadding="0" cellspacing="1" class="tablebg" style="width: 90%px;">
<tbody>
<tr class="head">
<th align="center" valign="top" width="10%">Sr. No</th>
<th align="center" valign="top" width="68%">Description of Regulatory Approval</th>
<th align="center" valign="top" width="22%">Time required</th>
</tr>
<tr>
<td class="head" colspan="3" valign="top">SRO</td>
</tr>
<tr>
<td align="center" valign="top">1.</td>
<td valign="top">Recognition to Self-Regulatory Organisation (SRO)</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td class="head" colspan="3" valign="top">Non-Banking Finance Companies(NBFCs)</td>
</tr>
<tr>
<td align="center" valign="top">2.</td>
<td valign="top">Issue of Certificate of Registration<br />
(other than Securitization and Reconstruction Companies)</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">3.</td>
<td valign="top">NOC to sponsor Infrastructure Debt Fund by NBFC</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">4.</td>
<td valign="top">Change of control/ownership/management of an NBFC</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">5.</td>
<td valign="top">Conversion of existing NBFCs to other
categories such as Core Investment Companies-Non Deposit
taking-Systemically Important (CIC-ND-SI) , NBFC-Micro Finance
Institutions (NBFC-MFIs), NBFC-Infrastructure Finance Companies (IFCs)
and NBFC-Factors</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">6</td>
<td valign="top">Change in shareholding pattern</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">7</td>
<td valign="top">Declaration of dividend– (In case there
are special reasons or difficulties for any PD in strictly adhering
to the guidelines relating to Dividend, it may approach RBI in
advance for an appropriate ad hoc dispensation in this regard) 45 days </td><td align="center" valign="top"><br /></td>
</tr>
</tbody></table>
<div align="center" class="paraheader">
<div align="center" class="MsoNormal" style="margin-bottom: 3.0pt; mso-layout-grid-align: none; mso-line-height-alt: 11.3pt; tab-stops: 12.0pt 18.0pt 24.0pt 30.0pt 36.0pt 42.0pt; text-align: center;">
<br />
<br />
<span style="font-weight: normal;"><span lang="EN-US" style="font-size: small;"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law ~</span></span></span></span> Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law ~</span></span></span></span> Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law</span></span></span></span><span style="font-family: "arial" , "sans-serif";"><span style="font-family: "arial" , "sans-serif";"> </span></span></span></span></span></span></div>
<span style="font-weight: normal;"><span style="font-size: small;">
</span></span>
<span style="font-weight: normal;"><span style="color: blue; font-size: small;"><span lang="EN-US" style="font-family: "arial" , "sans-serif";"> </span><span style="font-size: xx-small;"><span style="font-family: "trebuchet ms" , sans-serif;">Ozg Banking & NBFC Experts | Website: <a href="http://nbfc.co.in/">nbfc.co.in</a> | Email: ask@nbfc.in</span></span></span></span><br />
<br />
<br />
<div class="MsoNormal" style="margin-bottom: 3pt; text-align: center;">
</div>
<span style="color: blue;"><span style="font-size: large;">V. Department of Non-Banking Supervision</span></span></div>
<table align="center" border="0" cellpadding="0" cellspacing="1" class="tablebg" style="width: 90%px;">
<tbody>
<tr class="head">
<th align="center" valign="top" width="10%">Sr. No</th>
<th align="center" valign="top" width="67%">Description of Regulatory Approval</th>
<th align="center" valign="top" width="23%">Time required</th>
</tr>
<tr>
<td class="head" colspan="3" valign="top">Non-Banking Finance Companies(NBFCs)</td>
</tr>
<tr>
<td align="center" valign="top">1.</td>
<td valign="top">Change of name</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">2.</td>
<td valign="top">Shifting of company’s Registered Office and request for issue of fresh Certificate of Registration</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">3</td>
<td valign="top">Issue of NOC for setting up of subsidiary/ Wholly Owned Subsidiary overseas</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">4</td>
<td valign="top">Approval for exemption from the exposure norms in cases where public funds are not accepted</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">5</td>
<td valign="top">Permission to invest in insurance companies</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">6</td>
<td valign="top">Permission to convert NBFC from Category A (Accepting Deposits) to Category B (Non-Deposit Accepting)</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">7</td>
<td valign="top">Opening of branches (> 1000 in number) by NBFCs primarily into lending against gold jewellery</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">8.</td>
<td valign="top">Opening of branches by NBFCs-Deposit taking</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">9.</td>
<td valign="top">Issue of co-branded credit cards and pre-paid payment instruments</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">10.</td>
<td valign="top">Distribution of mutual fund products</td>
<td align="center" valign="top">30 days</td>
</tr>
</tbody></table>
<div align="center" class="paraheader">
<br />
<span style="color: blue;"><span style="font-size: large;">VI. Department of Payment and Settlement Systems</span></span></div>
<table align="center" border="0" cellpadding="0" cellspacing="1" class="tablebg" style="width: 90%px;">
<tbody>
<tr class="head">
<th align="center" valign="top" width="3%">Sr. No.</th>
<th align="center" valign="top" width="60%">Description of Regulatory Approval</th>
<th align="center" valign="top" width="17%">Time required</th>
</tr>
<tr>
<td class="head" colspan="3" valign="top">Financial Market Infrastructure</td>
</tr>
<tr>
<td align="center" valign="top">1.</td>
<td valign="top">Authorisation for Financial Market Infrastructure e.g. Central Counter Party, Trade Repository, etc.</td>
<td align="center" valign="top">120 days @</td>
</tr>
<tr>
<td class="head" colspan="3" valign="top">Retail Payment System</td>
</tr>
<tr>
<td align="center" valign="top">2.</td>
<td valign="top">Authorisation for Retail Payment System
(including Card Payment Networks, Cross Border Money Transfer, ATM
Network, Prepaid Payment Instrument Operators, White Label ATM
Operators, etc.)</td>
<td align="center" valign="top">120 days #</td>
</tr>
<tr>
<td colspan="3" valign="top">@ –The proposals are put up for
approval to Board for Regulation and Supervision of Payment and
Settlement Systems (BPSS). BPSS ordinarily meets once in three months.<br />
# – Payment and Settlement Systems Act, 2007 [Sec 7(4)] states that
RBI shall endeavour to dispose of applications for Authorisation within
six months from the date of filing. The proposals are approved by the
BPSS. BPSS ordinarily meets once in three months.</td>
</tr>
</tbody></table>
<div align="center" class="paraheader">
<br />
<br />
<span style="font-weight: normal;"><span lang="EN-US" style="font-size: small;"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law ~</span></span></span></span> Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law ~</span></span></span></span> Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law</span></span></span></span><span style="font-family: "arial" , "sans-serif";"><span style="font-family: "arial" , "sans-serif";"> </span></span></span></span></span></span><br />
<span style="font-weight: normal;"><span style="font-size: small;">
</span></span>
<span style="font-weight: normal;"><span style="color: blue; font-size: small;"><span lang="EN-US" style="font-family: "arial" , "sans-serif";"> </span><span style="font-size: xx-small;"><span style="font-family: "trebuchet ms" , sans-serif;">Ozg Banking & NBFC Experts | Website: <a href="http://nbfc.co.in/">nbfc.co.in</a> | Email: ask@nbfc.in</span></span></span></span><br />
<br />
<br />
<br />
<span style="color: blue;"><span style="font-size: large;">VII. Foreign Exchange Department</span></span></div>
<table align="center" border="0" cellpadding="0" cellspacing="1" class="tablebg" style="width: 90%px;">
<tbody>
<tr class="head">
<th align="center" valign="top" width="3%">Sr. No.</th>
<th align="center" valign="top" width="60%">Description of Regulatory Approval</th>
<th align="center" valign="top" width="17%">Time required</th>
</tr>
<tr>
<td align="center" rowspan="3" valign="top">1.</td>
<td valign="top">a) Trade Credit under approval route</td>
<td align="center" valign="top">7 days</td>
</tr>
<tr>
<td valign="top">b) Post servicing of External Commercial
Borrowing (ECB)/ Foreign Currency Convertible Bond (FCCB) under
Automatic and Approval route </td>
<td align="center" valign="top">15 days</td>
</tr>
<tr>
<td valign="top">c) ECB/FCCB proposals under Approval route </td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" rowspan="2" valign="top">2.</td>
<td valign="top">NOC/approval for <br />
<br />
a) Employee Stock Ownership Plan(ESOP) not covered under general permission<br />
b)
Rights Issue not covered under general permission<br />
c)
Permission for investment by erstwhile Overseas Corporate Body(OCB)<br />
d)
NOC for repatriation of share application money beyond 180 days<br />
e)
Extension for retention of share application money beyond 180 days<br />
f)
Conversion of shares from non-repatriation basis to repatriation basis<br />
g)
Approval for holding share application money in foreign currency in India/ abroad<br />
h)
Approval for registration of Foreign Venture Capital Investor(FVCI)<br />
i)
Increase in holdings in a company beyond the limit to 24 % up to sectoral cap/ statutory ceiling</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td valign="top">j) Approval for Pledge of shares</td>
<td align="center" valign="top">40 days </td>
</tr>
<tr>
<td align="center" valign="top">3.</td>
<td valign="top">Receipt of Capital Contribution</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" rowspan="2" valign="top">4.</td>
<td valign="top">a)Transfer of shares from Non Resident Indian (NRI) to Non Resident(NR)</td>
<td align="center" valign="top">40 days </td>
</tr>
<tr>
<td valign="top">b) Gift of shares from Resident to NRI<br />
c) Delay in reporting<br />
d) Permission for opening of escrow account by Authorised
Dealer(AD) Category – I bank beyond the period of 6 months for
effecting transfer of shares</td>
<td align="center" valign="top">60 days</td>
</tr>
<tr>
<td align="center" rowspan="4" valign="top">5.</td>
<td valign="top">a) Permission for establishment of new Liaison Office(LO)/ Branch Office(BO) in India under Approval Route</td>
<td align="center" valign="top">40 days</td>
</tr>
<tr>
<td valign="top">b) Approval for establishing additional LO/BO in India.<br />
c)
Permission for shifting LO/BO to another city.</td>
<td align="center" valign="top">10 days on receipt of Government approval </td>
</tr>
<tr>
<td valign="top">d) Permission for opening LO/BO/ Project Office(PO)
by entities from China, Hong Kong, Macau, Pakistan, Bangladesh,
Afghanistan, Sri Lanka and Iran </td>
<td align="center" valign="top">10 days on receipt of Government approval </td>
</tr>
<tr>
<td valign="top">e) Permission for establishing PO in India which require GOI approval</td>
<td align="center" valign="top">10 days on receipt of Government approval </td>
</tr>
<tr>
<td align="center" valign="top">6.</td>
<td valign="top">Permission to open foreign currency account in India</td>
<td align="center" valign="top">60 days</td>
</tr>
<tr>
<td align="center" valign="top">7.</td>
<td valign="top">To open foreign currency account outside India</td>
<td align="center" valign="top">60 days</td>
</tr>
<tr>
<td align="center" valign="top">8.</td>
<td valign="top">To open Non Resident Ordinary(NRO) account in consultation with the MoF, GoI</td>
<td align="center" valign="top">30 days on receipt of Government approval</td>
</tr>
<tr>
<td align="center" valign="top">9.</td>
<td valign="top">To receive salary outside India in foreign currency account</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">10.</td>
<td valign="top">For transfer/acquisition of immovable property
not covered under general permission in terms of Foreign Exchange
Management Act, 1999 or the rules/ regulations made thereunder</td>
<td align="center" valign="top">30 days on receipt of Government approval</td>
</tr>
<tr>
<td align="center" valign="top">11.</td>
<td valign="top">Approvals given for proposals regarding
miscellaneous external payments of permissible Current and Capital
Account transactions</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" rowspan="3" valign="top">12.</td>
<td valign="top">a) Investment in Overseas Joint Ventures and Wholly Owned Subsidiary(WOS) (not covered by automatic route) <br />
b)
Other overseas Investment under approval route</td>
<td align="center" valign="top">40 days </td>
</tr>
<tr>
<td valign="top">c) Disinvestment of shares in Overseas Joint Ventures / Subsidiaries</td>
<td align="center" valign="top">40 days</td>
</tr>
<tr>
<td valign="top">d) Allotment of Unique Identification Number (UIN)</td>
<td align="center" valign="top">Instant online allotment</td>
</tr>
<tr>
<td align="center" valign="top">13.</td>
<td valign="top">Issue and Renewal of fresh AD Category Cat-I licence </td>
<td align="center" valign="top">30 days </td>
</tr>
<tr>
<td align="center" valign="top">14.</td>
<td valign="top">Issue of fresh AD Cat-II licence</td>
<td align="center" valign="top">90 days </td>
</tr>
<tr>
<td align="center" valign="top">15.</td>
<td valign="top">Issue and Renewal of fresh AD Cat-III licence </td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">16.</td>
<td valign="top">Issue of fresh licence to conduct Money Transfer Service Scheme(MTSS) business</td>
<td align="center" valign="top">45 days </td>
</tr>
<tr>
<td align="center" valign="top">17.</td>
<td valign="top">Issue of first permission to undertake Rupee Drawing Arrangement (RDA) scheme</td>
<td align="center" valign="top">30 days </td>
</tr>
<tr>
<td align="center" valign="top">18.</td>
<td valign="top">Approvals to take Insurance policies from insurance companies in foreign countries.</td>
<td align="center" valign="top">7 days</td>
</tr>
<tr>
<td align="center" valign="top">19. </td>
<td valign="top">Compounding of contraventions of FEMA</td>
<td align="center" valign="top">180 days</td>
</tr>
<tr>
<td align="center" valign="top">20.</td>
<td valign="top">Issue/ Renewal of Money Changer’s licence</td>
<td align="center" valign="top">40 days </td>
</tr>
</tbody></table>
<div align="center" class="paraheader">
<br />
<span style="color: blue;"><span style="font-size: large;">VIII. Financial Markets Operation Department</span></span></div>
<table align="center" border="0" cellpadding="0" cellspacing="1" class="tablebg" style="width: 90%px;">
<tbody>
<tr class="head">
<th align="center" valign="top" width="3%">Sr. No.</th>
<th align="center" valign="top" width="60%">Description of Regulatory Approval</th>
<th align="center" valign="top" width="17%">Time required</th>
</tr>
<tr>
<td align="center" valign="top">2.</td>
<td valign="top">Intra-day Limit (IDL) setting for RTGS members</td>
<td align="center" valign="top">7 days*</td>
</tr>
<tr>
<td colspan="3" valign="top">*The timeline indicates clear working days, excluding date of receipt of application.</td>
</tr>
</tbody></table>
<div align="center" class="paraheader">
<br />
<span style="font-weight: normal;"><span lang="EN-US" style="font-size: small;"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law ~</span></span></span></span> Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law ~</span></span></span></span> Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law</span></span></span></span><span style="font-family: "arial" , "sans-serif";"><span style="font-family: "arial" , "sans-serif";"> </span></span></span></span></span></span><br />
<span style="font-weight: normal;"><span style="font-size: small;">
</span></span>
<span style="font-weight: normal;"><span style="color: blue; font-size: small;"><span lang="EN-US" style="font-family: "arial" , "sans-serif";"> </span><span style="font-size: xx-small;"><span style="font-family: "trebuchet ms" , sans-serif;">Ozg Banking & NBFC Experts | Website: <a href="http://nbfc.co.in/">nbfc.co.in</a> | Email: ask@nbfc.in</span></span></span></span><br />
<br />
<br />
<br />
<span style="font-size: large;"><span style="color: blue;">IX. Financial Markets Regulation Department</span></span></div>
<table align="center" border="0" cellpadding="0" cellspacing="1" class="tablebg" style="width: 90%px;">
<tbody>
<tr class="head">
<th align="center" valign="top" width="3%">Sr. No.</th>
<th align="center" valign="top" width="60%">Description of Regulatory Approval</th>
<th align="center" valign="top" width="17%">Time required</th>
</tr>
<tr>
<td align="center" valign="top">1</td>
<td valign="top">One time Permission to Authorised Dealer category–I bank for running FCY-INR options book</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">2</td>
<td valign="top">Authorisation to Currency Futures Exchanges/ Clearing Corporations u/s 10(1) of FEMA 1999</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">3</td>
<td valign="top">NDS-OM membership</td>
<td align="center" valign="top">7 days*</td>
</tr>
<tr>
<td align="center" valign="top">4</td>
<td valign="top">NDS-CALL membership</td>
<td align="center" valign="top">7 days*</td>
</tr>
<tr>
<td colspan="3" valign="top">*Timeline indicates clear working days, excluding date of receipt of application complete in all respects.</td>
</tr>
</tbody></table>
<div align="center" class="paraheader">
<span style="color: blue;"><span style="font-size: large;">X. Internal Debt Management Department</span></span></div>
<table align="center" border="0" cellpadding="0" cellspacing="1" class="tablebg" style="width: 90%px;">
<tbody>
<tr>
<th align="center" valign="top" width="3%"><span class="head">Sr. No.</span></th>
<th align="center" valign="top" width="60%"><span class="head">Description of Regulatory Approval</span></th>
<th align="center" valign="top" width="17%"><span class="head">Time required</span></th>
</tr>
<tr>
<td colspan="3" valign="top"><span class="head">Bank Primary Dealers (carrying PD business departmentally)</span></td>
</tr>
<tr>
<td align="center" rowspan="2" valign="top">1.</td>
<td valign="top">1. License for Primary Dealer Business</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td valign="top">2. Termination of PD license</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td class="head" colspan="3" valign="top">Standalone Primary Dealers</td>
</tr>
<tr>
<td align="center" rowspan="5" valign="top">2.</td>
<td valign="top">1. License for Primary Dealer Business </td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td valign="top">2. Termination of PD license</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td valign="top">3. For undertaking Portfolio Management Services</td>
<td align="center" valign="top">60 days</td>
</tr>
<tr>
<td valign="top">4. To act as market makers in the Credit Default Swaps (CDS)</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td valign="top">5. Diversification of activities by PD </td>
<td align="center" valign="top">45 days</td>
</tr>
</tbody></table>
<div align="center" class="paraheader">
<br />
<br />
<span style="font-weight: normal;"><span lang="EN-US" style="font-size: small;"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law ~</span></span></span></span> Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law ~</span></span></span></span> Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law</span></span></span></span><span style="font-family: "arial" , "sans-serif";"><span style="font-family: "arial" , "sans-serif";"> </span></span></span></span></span></span><br />
<span style="font-weight: normal;"><span style="font-size: small;">
</span></span>
<span style="font-weight: normal;"><span style="color: blue; font-size: small;"><span lang="EN-US" style="font-family: "arial" , "sans-serif";"> </span><span style="font-size: xx-small;"><span style="font-family: "trebuchet ms" , sans-serif;">Ozg Banking & NBFC Experts | Website: <a href="http://nbfc.co.in/">nbfc.co.in</a> | Email: ask@nbfc.in</span></span></span></span><br />
<br />
<br />
<br />
<span style="color: blue;"><span style="font-size: large;">XI. Department of Co-operative Bank Regulation (DCBR)</span></span></div>
<div align="center" class="head">
A. Approvals/Permissions given by Central Office for Primary Urban Cooperative Banks</div>
<table align="center" border="0" cellpadding="0" cellspacing="1" class="tablebg" style="width: 90%px;">
<tbody>
<tr class="head">
<th align="center" valign="top" width="3%">Sr. No.</th>
<th align="center" valign="top" width="60%">Description of Regulatory Approval</th>
<th align="center" valign="top" width="17%">Time required</th>
</tr>
<tr>
<td class="head" colspan="3" valign="top">1. Approvals/Permissions given by Central Office for UCBs</td>
</tr>
<tr>
<td align="center" valign="top">1.</td>
<td valign="top">Extension of Area of Operation<br />
i) beyond adjoining districts and to the entire State of registration<br />
ii) beyond the State of registration<br />
iii) for multi-state UCBs</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">2.</td>
<td valign="top">Shifting of branches – Request from UCBs not
conforming to the FSWM (Financially Sound and Well Managed) criteria
for shifting of their offices/branches outside the centre/State</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">3.</td>
<td valign="top">Shifting of branches of UCBs outside the State of registration</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">4.</td>
<td valign="top">Permission to undertake intra-day short selling of G-Secs</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">5.</td>
<td valign="top">Permission to extend unsecured advances up to
25% of total assets subject to conditions prescribed in our circular
dated April 3, 2010</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">6.</td>
<td valign="top">Remission of Debt of Director related loans</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">7.</td>
<td valign="top">Grant of permission for raising Long Term
(Subordinated) Deposits (LTD)/ Perpetual Non-Cumulative Preference
Shares (PNCPS)/ Conversion of deposits to equity</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td class="head" colspan="3" valign="top">2. Approvals/Permissions given by Regional Offices for UCBs</td>
</tr>
<tr>
<td align="center" valign="top">8.</td>
<td valign="top">Shifting of offices to different wards/municipal areas</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">9.</td>
<td valign="top">Extension of time for submission of Form – V (Furnishing of details of Branches opened)</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">10.</td>
<td valign="top">Change of address to same municipal ward, post issue of authorization but before opening of branch</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">11.</td>
<td valign="top">Authorisation for opening of branches under Annual Business Plan and new off-site ATMs</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">12.</td>
<td valign="top">Approval for opening of specialized branches by UCBs</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">13.</td>
<td valign="top">Permission to extend internet banking facility to customers</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">14.</td>
<td valign="top">Permission for payment of dividend</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">15.</td>
<td valign="top">Change in name of bank</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td align="center" valign="top">16.</td>
<td valign="top">Authorization to maintain/renew NRE accounts</td>
<td align="center" valign="top">90 days</td>
</tr>
<tr>
<td class="head" colspan="3" valign="top">3. Other applications
received by the Department for recommendations but
approvals/permissions granted by other Departments /Organisations for
UCBs</td>
</tr>
<tr>
<td align="center" valign="top">17.</td>
<td valign="top">Approvals related to Centralised Payment System</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">18.</td>
<td valign="top">MTSS</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">19.</td>
<td valign="top">AD-I and AD-II category licences</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">20.</td>
<td valign="top">Opening of current account/SGL account</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">21.</td>
<td valign="top">Clearing House memberships</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">22.</td>
<td valign="top">NDS-OM Membership</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">23.</td>
<td valign="top">Permission to extend mobile banking to customers</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">24.</td>
<td valign="top">Banker to Issue</td>
<td align="center" valign="top">45 days</td>
</tr>
<tr>
<td align="center" valign="top">25.</td>
<td valign="top">Merchant Banking</td>
<td align="center" valign="top">45 days</td>
</tr>
</tbody></table>
<div align="center" class="head">
<br />
<br />
<span style="font-weight: normal;"><span lang="EN-US" style="font-size: small;"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law ~</span></span></span></span> Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law ~</span></span></span></span> Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law</span></span></span></span><span style="font-family: "arial" , "sans-serif";"><span style="font-family: "arial" , "sans-serif";"> </span></span></span></span></span></span><br />
<span style="font-weight: normal;"><span style="font-size: small;">
</span></span>
<span style="font-weight: normal;"><span style="color: blue; font-size: small;"><span lang="EN-US" style="font-family: "arial" , "sans-serif";"> </span><span style="font-size: xx-small;"><span style="font-family: "trebuchet ms" , sans-serif;">Ozg Banking & NBFC Experts | Website: <a href="http://nbfc.co.in/">nbfc.co.in</a> | Email: ask@nbfc.in</span></span></span></span><br />
<br />
<br />
<br />
<br />
<b><span style="color: blue;">B. Regulatory Approval for State and Central Cooperative Banks</span></b></div>
<div align="center" class="head">
1. Regulatory approvals granted without involving other departments/agencies</div>
<table align="center" border="0" cellpadding="0" cellspacing="1" class="tablebg" style="width: 90%px;">
<tbody>
<tr class="head">
<th align="center" valign="top" width="3%">Sr. No.</th>
<th align="center" valign="top" width="60%">Description of Regulatory Approval</th>
<th align="center" valign="top" width="17%">Time required</th>
</tr>
<tr>
<td class="head" colspan="3" valign="top">State and Central Co-op. Banks</td>
</tr>
<tr>
<td align="center" valign="top">1.</td>
<td valign="top">Grant of loan/advance against the security of NRE deposits to a resident individual/ firm/ company in India</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">2.</td>
<td valign="top">Disposal of non-banking assets</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">3.</td>
<td valign="top">Investment in shares of other Co-operative Societies situated outside the area of the co-operative bank</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">4.</td>
<td valign="top">Permission to make investments in non-SLR securities</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">5.</td>
<td valign="top">Retirement of investments made in the deposits
of PSUs / Companies / Corporations / UCBs / NBFCs, etc. and
investments in mutual funds, non- PSU bonds – Approval of time-bound
programme by Regional Office</td>
<td align="center" valign="top">30 days</td>
</tr>
</tbody></table>
<div align="center" class="head">
<br />
2. Regulatory approvals involving inter-office/inter-agency coordination</div>
<table align="center" border="0" cellpadding="0" cellspacing="1" class="tablebg" style="width: 90%px;">
<tbody>
<tr class="head">
<th align="center" valign="top" width="3%">Sr. No.</th>
<th align="center" valign="top" width="60%">Description of Regulatory Approval</th>
<th align="center" valign="top" width="17%">Time required</th>
</tr>
<tr>
<td class="head" colspan="3" valign="top">State and Central Co-op. Banks</td>
</tr>
<tr>
<td align="center" valign="top">1.</td>
<td valign="top">Grant of banking licence</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">2.</td>
<td valign="top">Permission to make investments in non-PSU bonds where prescribed criteria are not met</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">3.</td>
<td valign="top">Permission to issue Long Term (Subordinated) Deposits and Innovative Perpetual Debt Instruments</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">4.</td>
<td valign="top">Permission to take up insurance business and renewal thereof</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">5.</td>
<td valign="top">Permission for commencing co-branded credit card business and renewal of permission</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td class="head" colspan="3" valign="top">State Co-op. Banks</td>
</tr>
<tr>
<td align="center" valign="top">6.</td>
<td valign="top">Grant of branch licence to State Co-op. banks</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">7.</td>
<td valign="top">Grant of permission to open Extension Counters</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">8.</td>
<td valign="top">Permission for opening specialized branches for
conducting forex business, etc., and for up-gradation of existing
extension counters into full-fledged branches</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">9.</td>
<td valign="top">Permission for shifting of a bank branch to a
different locality/municipal ward other than the one mentioned in the
licence</td>
<td align="center" valign="top">30 days</td>
</tr>
<tr>
<td align="center" valign="top">10.</td>
<td valign="top">Inclusion in the 2nd Schedule to RBI Act 1934</td>
<td align="center" valign="top">30 days</td>
</tr>
</tbody></table>
<div class="head">
<br />
<br />
<b>Foot Note:</b></div>
<ol>
<li style="text-align: justify;">
All the above estimated timelines for regulatory approvals of various departments (<span class="head">I to XI</span>) are anticipated to be met by in most cases, but a few may exceed these timelines.<br />
</li>
<li style="text-align: justify;">
If departments are likely to exceed the timeline, they will revert to the applicant.<br />
</li>
<li style="text-align: justify;">
In case an applicant does not get a response within the indicated
timeline, they can approach the head of the concerned department. The
department head will respond with the status of the application, the
reason for delay, request for additional information, if any, as well
as likely time for disposal of the application.<br />
</li>
<li style="text-align: justify;">
In some situations, a change in procedure or in the environment
will change the estimated time for action. In such cases, the timeline
for approval will be modified appropriately.<br />
</li>
<li><div style="text-align: justify;">
The timelines given in column 3 <span class="head">for all above Departments (I to XI)</span>
are subject to receipt of complete information/ documents from the
banks/ institutions concerned as well as receipt of regulatory/
supervisory inputs/ due diligence reports/ approvals from other
regulators and the concerned Government Agencies/ Departments.</div>
<br />
<br /><div style="text-align: center;">
<br /></div>
<div style="text-align: center;">
<span style="font-weight: normal;"><span lang="EN-US" style="font-size: small;"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;"><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law ~</span></span></span></span> Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law ~</span></span></span></span> Ozg <span style="font-family: "arial" , "sans-serif";">Law<span style="font-family: "arial" , "sans-serif";"> ~</span> </span></span></span></span><span lang="EN-US"><span style="color: black; font-family: "arial" , "sans-serif"; text-decoration: none;"><span style="font-size: xx-small;">Ozg <span style="font-family: "arial" , "sans-serif";">Law</span></span></span></span><span style="font-family: "arial" , "sans-serif";"><span style="font-family: "arial" , "sans-serif";"> </span></span></span></span></span></span></div>
<div style="text-align: center;">
<span style="font-weight: normal;"><span style="font-size: small;">
</span></span></div>
<div style="text-align: center;">
<span style="font-weight: normal;"><span style="color: blue; font-size: small;"><span lang="EN-US" style="font-family: "arial" , "sans-serif";"> </span><span style="font-size: xx-small;"><span style="font-family: "trebuchet ms" , sans-serif;">Ozg Banking & NBFC Experts | Website: <a href="http://nbfc.co.in/">nbfc.co.in</a> | Email: ask@nbfc.in</span></span></span></span></div>
<br />
<br />
<div class="MsoNormal" style="margin-bottom: 3pt; text-align: center;">
</div>
<div class="MsoNormal" style="margin-bottom: 3pt; text-align: center;">
</div>
</li>
</ol>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-77774464523466778662018-05-30T15:16:00.002-07:002018-05-30T15:16:08.291-07:00List of Donor Agencies exempted under FCRA
<blockquote class="tr_bq">
<div style="text-align: justify;">
List of agencies of the United Nations, and other international agencies and organisations<br />
notified by the Central Government to be not covered by the definition of 'foreign source', under section 2(1)(j)(ii) of the Foreign Contribution (Regulation) Act, 2010<br />
<br />
The United Nations System<br />
I. Secretariat<br />
1. Office of Internal Oversight Services, New York.<br />
2. Office of Legal Affairs, New York.<br />
3. Department of Political Affairs, New York.<br />
4. Department for Disarmament Affairs, New York.<br />
5. Department of Peacekeeping Operations, New York.<br />
6. Office for the Coordination of Humanitarian Affairs, New York.<br />
7. Department of Economic and Social Affairs, New York.<br />
8. Department for General Assembly Affairs and Conference Services, New York.<br />
9. Department of Public Information, New York.<br />
10. Department of Management, New York.<br />
11. United Nations Office at Geneva.<br />
12. United Nations Office at Vienna.<br />
13. United Nations Office at Nairobi.<br />
II. Bodies of the United Nations<br />
14. International Research and Training Institute for the Advancement of Women<br />
(INSTRAW), Santo Domingo, Dominican Republic.<br />
15. Joint United Nations Programme on HIV/AIDS (UNAIDS), Geneva.<br />
16. Office of the UN High Commissioner for Human Rights (OHCHR), Geneva.<br />
17. Office of the UN High Commissioner for Refugees (UNHCR), Geneva.<br />
18. United Nations Capital Development Fund (UNCDF), New York.<br />
19. United Nations Conference on Trade and Development (UNCTAD), Geneva.<br />
20. United Nations Development Fund for Women (UNIFEM), New York.<br />
21. United Nations Institute for Disarmament Research (UNIDIR), Geneva.<br />
22. United Nations Institute for Training and Research (UNITAR), Geneva.<br />
23. United Nations Interregional Crime and Justice Research Institute (UNICRI), Rome.<br />
24. United Nations Office for Project Services (UNOPS), New York.<br />
25. United Nations Relief and Works Agency for Palestine Refugees in the Near East<br />
(UNRWA), Gaza and Amman.<br />
26. United Nations Research Institute for Social Development (UNRISD), Geneva.<br />
27. United Nations University (UNU), Tokyo.<br />
28. United Nations Volunteers (UNV), Bonn.<br />
III. Funds and Programs<br />
29. United Nations Children’s Fund (UNICEF), New York.<br />
30. United Nations Development Programme (UNDP), New York.<br />
31. United Nations Environment Programme (UNEP), Nairobi.<br />
32. United Nations International Drug Control Programme (UNDCP), Vienna.<br />
33. United Nations Population Fund (UNFPA), New York.<br />
34. World Food Programme (WFP), Rome.<br />
IV. Regional Commissions<br />
35. Economic Commission for Africa (ECA), Addis Ababa, Ethiopia.<br />
36. Economic Commission for Asia and the Pacific (ESCAP), Bangkok, Thailand.<br />
37. Economic Commission for Europe (ECE), Geneva.<br />
38. Economic Commission for Latin America and the Caribbean (ECLAC), Santiago,<br />
Chile.<br />
39. Economic Commission for Western Asia (ESCWA), Beirut, Lebanon.<br />
V. Law of the Sea Treaty Bodies<br />
40. International Seabed Authority, Kingston.<br />
41. International Tribunal for the Law of the Sea, Hamburg.<br />
42. Commission on the Limits of the Continental Shelf, United Nations Divisions for<br />
Ocean Affairs and the Law of the Sea, New York.<br />
VI. Environmental Bodies<br />
43. Secretariat of the United Nations Framework Convention on Climate Change<br />
(UNFCCC), Bonn.<br />
44. Intergovernmental Panel on Climate Change (IPCC), Geneva.<br />
45. Ozone Secretariat to the Vienna Convention for the Protection of the Ozone Layer<br />
and the Montreal Protocol on Substance that Deplete the Ozone Layer, Nairobi.<br />
46. Secretariat of the Convention on Biological Diversity (CBD), Montreal.<br />
47. Secretariat of the Convention on International Trade in Endangered Species of Wild<br />
Fauna and Flora (CITES), Geneva.<br />
48. UNEP/CMS Secretariat of the Convention on the Conservation of Migratory Species<br />
of Wild Animals (CMS or Bonn Convention), Bonn.<br />
49. Secretariat of the Basel Convention on the Control of Trans-boundary Movements of<br />
Hazardous Wastes and their Disposal, Geneva.<br />
50. Secretariat of the United Nations Convention to Combat Desertification in Countries<br />
Experiencing Serious Drought /or Desertification, especially in Africa (CCD), Bonn.<br />
51. Global Environment Facility, Washington D.C.<br />
52. Bureau (Secretariat) of the Convention on Wetlands (Ramsar), Gland, Switzerland.<br />
VII. SPECIALISED AGENCIES<br />
53. International Labour Organisation (ILO), Geneva.<br />
54. Food and Agriculture Organization (FAO), Rome.<br />
55. United Nations Educational, Scientific and Cultural Organisation (UNESCO), Paris.<br />
56. International Civil Aviation Organisation (ICAO), Montreal.<br />
57. World Health Organisation, Geneva.<br />
58. Universal Postal Union (UPO), Berne, Switzerland.<br />
59. International Telecommunication Union (ITU), Geneva.<br />
60. World Meteorological Organization (WMO), Geneva.<br />
61. International Maritime Organization (IMO), London.<br />
62. World Intellectual Property Organization (WIPO), Geneva.<br />
63. International Fund for Agricultural Development (IFAD), Rome.<br />
64. United Nations Industrial Development Organisation (UNIDO), Vienna.<br />
VIII. The World Bank Group<br />
65. International Bank for Reconstruction and Development (IBRD), Washington D.C.<br />
66. International Development Association (IDA), Washington D.C.<br />
67. International Monetary Fund (IMF) Washington D.C.<br />
68. International Finance Corporation (IFC), Washington D.C.<br />
69. Associated Organisations of World Bank Group:<br />
A) International Centre for the settlement of Investment Disputes (ICSID),<br />
Washington D.C.<br />
B) Multilateral Investment Guarantee Agency (MIGA), Washington D.C.<br />
C) Consultative Group on International Agricultural Research (CGIAR), Washington<br />
D.C. (It has 16 Research centres)<br />
i. International Plant Genetic Resource Institute (IPGRI), Rome.<br />
ii. International Wheat and Maize Improvement Centre (CIMMYT),<br />
Mexico.<br />
iii. International Centre for Living Aquatic Resource Management<br />
(ICLARM), Philippines.<br />
iv. International Irrigation Management Institute (IIMI), Colombo.<br />
v. International Food Policy Research Institute (IFPRI) Washington<br />
D.C.<br />
vi. International Centre of Research in Agro-forestry (ICRAF),<br />
Nairobi.<br />
vii. International Centre for Agricultural Research in Dry Areas<br />
(ICARDA), Syria.<br />
viii. International Centre for Tropical Agriculture (CIAT), Columbia.<br />
ix. International livestock Research Institute (ILRI), Nairobi.<br />
x. West Africa Development Association (WARDA), Abidjan.<br />
xi. International Service Of National Agricultural Research (ISNAR),<br />
The Netherlands.<br />
xii. International Crops Research Institute For the Semi-Arid Tropics<br />
(ICRISAT), Hyderabad.<br />
xiii. International Rice Research Institute, Manila, Philippines.<br />
xiv. International Potato Centre, Peru.<br />
xv. Centre for International Forestry Research (CIFOR), Indonesia.<br />
xvi. International Institute of Tropical Agriculture (IITA), Nigeria.<br />
IX. Regional Development Banks<br />
70. African development Bank (ADB), Abidjan.<br />
71. Inter-American Development Bank (IDB), Washington D.C.<br />
72. Asian Development Bank (ADB), Manila.<br />
73. Caribbean Development Bank (CDB), St. Michael, Barbados.<br />
X. Other Bodies Related to United Nations<br />
74. International Atomic Energy Agency (IAEA), Vienna.<br />
75. Organisation for the Prohibition of Chemical Weapons (OPCW), The Hague.<br />
76. Provisional Technical Secretariat (PTS) for the Comprehensive Nuclear Test Ban<br />
Treaty Organization (CTBTO), Vienna.<br />
77. International Consultative Group on Food Irradiation (ICGFI), Vienna.<br />
78. International Narcotics Control Board (INCB), Vienna.<br />
79. International Trade Centre UNCTAD/WTO (ITC), Geneva.<br />
80. International Union for the Protection of New Varieties of Plants (UPOV),<br />
Geneva.<br />
81. World Tourism Organisation (WTO/OMT), Madrid.<br />
82. World Food Council (WFC).<br />
83. United Nations Social Defence Research Institute (UNSDRI).<br />
84. United Nations Statistical Office (UNSCO).<br />
XI. Other International organisations<br />
85. United Nations Outer Space Committee.<br />
86. International Sugar Organisation, London.<br />
87. Asian Productivity Organisation, Tokyo.<br />
88. Asian and Pacific Development Administration, Kuala Lumpur.<br />
89. Asian African Legal Consultative Committee, New Delhi.<br />
90. Asia/Pacific Cultural Centre for UNESCO (ACCU), Japan.<br />
91. Commonwealth Secretariat, London.<br />
92. Afro-Asian Rural Reconstruction Organisation (AARRO), New Delhi.<br />
93. Centre on Integrated Rural Development for Asia and the Pacific, (CIRDAP),<br />
Dhaka.<br />
94. International Centre for Genetic Engineering and Biotechnology (ICGEB), New<br />
Delhi.<br />
95. Asia and Pacific Centre of Transfer of Technology (APCTT), New Delhi.<br />
96. Centre for Science and Technology of the Non-Aligned and Other Developing<br />
Countries (NAM S&T Centre). New Delhi.<br />
97. Commonwealth Agricultural Bureaux International (CABI), UK.<br />
98. The Asia Pacific Association of Agricultural Research Institution (APAARI),<br />
Bangkok<br />
99. The Regional Co-ordination centre for Research and Development of coarse<br />
Grains, Pulses, Roots and Tubercrops in the Humid Tropics of Asia and the Pacific<br />
(CGPRT Centre), Indonesia.<br />
100. The Regional Network for Agriculture Machinery (RNAM), Bangkok.<br />
101. Commission on Genetic Resources for Food and Agriculture (CGRFA), Rome.<br />
102. The International Seeds Testing Association (ISTA), Zurich.<br />
103. International Water Management Institute (IMI), Sri Lanka.<br />
(Notified in the Gazette of India, Extraordinary, Part II-Section 3- Sub-section (ii) vide S.O. No.<br />
1014 (E) dated the 13th November, 2000).<br />
104. World Trade Organisation (WTO), Geneva, Switzerland<br />
105. International Organisation for Standardisation (ISO), Geneva, Switzerland<br />
106. Common Fund for Commodities (CFC), Amsterdam, Netherlands<br />
107. International Cotton Advisory Committee, Washington, USA<br />
108. The Global Fund to Fight Aids, Tuberculosis and Malaria, Geneva, Switzerland.<br />
(Added vide Gazette of India, Extraordinary, Part II-Section 3- Sub-section (ii) vide S.O. No.<br />
1133 (E) dated the 1st May, 2009).<br />
109. Global Development Network (GDN)<br />
(Added vide Gazette of India, Extraordinary, Part II-Section 3- Sub-section (ii) vide S.O. No.1433<br />
(E) dated the 20th June, 2011).</div>
</blockquote>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-59169560131772293872018-05-26T05:52:00.002-07:002018-05-26T05:52:12.547-07:00 Gold Loan Bubble - RBI License & Regulations
<br />
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;">Gold Loan industry has grown from an unorganised 'rural pawn
broker' situation to a Rs 80,000 crore corporate business in India.</span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 115%;">Given the scale at which the business of lending money at
usurious rates against the collateral of gold is growing, RBI now seems to be
worried about the possibility of a gold loan bubble building up in the system
and is contemplating tighter regulation for the sector.</span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<div style="text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 115%;"><img alt="Image result for ozg gold loan" height="400" src="https://nbfcregistration.files.wordpress.com/2017/11/0434b-23164891_896470597167603_3410532842835279872_n.jpg?w=1108" width="400" /></span></div>
</div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 115%;">The
regulation could be in the form of limits on the loan
that a gold loan firm can give as a percentage of the value of mortgage.
The RBI may also restrict the maximum interest that a gold loan firm
can
charge its customers, and also the penalties that gold loan firms can
impose.</span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 115%;">RBI is concerned about the end use of the money lent out
against loan. Unlike other loans where one is buying a house or a car or any
other asset, loans against gold is a "cash-for-cash" situation. </span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 115%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 115%;">However, since much of the loan is collaterised against one's
possessions, a sharp drop in gold prices is likely to set off a chain of events
that may wreck havoc on the financial structure of gold loan companies.</span></div>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-82636332309504162812018-05-26T05:51:00.002-07:002018-05-26T05:51:51.907-07:00 Gold Jewellery Auction Process and Procedures - Goldloan NBFC Company - RBI Notification
<span style="font-size: small;"><br /></span>
<span style="font-size: small;"><br /></span>
<span style="font-size: small;"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif;">Reference is again invited to DNBS.CC.PD.No.266/03.10.01/2011-12 dated March 26, 2012 by which NBFCs were directed <i style="box-sizing: border-box;">inter alia</i> to
have Board approved policies on auction of gold jewellery that are
transparent to the borrower and adequate prior notice has been issued to
her/him. The following additional stipulations are made with respect
to auctioning of pledged gold jewellery:</span></span></span><br />
<span style="font-size: small;"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif;"> </span></span></span><span style="font-size: small;">
<span style="font-size: xx-small;">
</span>
</span><br />
<span style="font-size: small;"></span>
<br />
<ol style="box-sizing: border-box; margin-bottom: 10px; margin-top: 0px; text-align: justify;" type="a">
<li style="box-sizing: border-box;"><div style="box-sizing: border-box; margin-bottom: 10px;">
<span style="font-size: small;"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif;">The auction should be conducted in the same town or taluka in which the branch that has extended the loan is located.</span></span></span></div>
</li>
<li style="box-sizing: border-box;"><div style="box-sizing: border-box; margin-bottom: 10px;">
<span style="font-size: small;"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif;">While
auctioning the gold the NBFC should declare a reserve price for the
pledged ornaments. The reserve price for the pledged ornaments should
not be less than 85% of the previous 30 day average closing price of 22
carat gold as declared by The Bombay Bullion Association Ltd. (BBA) and
value of the jewellery of lower purity in terms of carats should be
proportionately reduced.</span></span></span></div>
</li>
<li style="box-sizing: border-box;"><div style="box-sizing: border-box; margin-bottom: 10px;">
<span style="font-size: small;"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif;">It
will be mandatory on the part of the NBFCs to provide full details of
the value fetched in the auction and the outstanding dues adjusted and
any amount over and above the loan outstanding should be payable to the
borrower.</span></span></span></div>
</li>
<li style="box-sizing: border-box;"><div style="box-sizing: border-box; margin-bottom: 10px;">
<span style="font-size: small;"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif;">NBFCs
must disclose in their annual reports the details of the auctions
conducted during the financial year including the number of loan
accounts, outstanding amounts, value fetched and whether any of its
sister concerns participated in the auction.</span></span></span><br />
<span style="font-size: small;"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif;"> </span></span></span><span style="font-size: small;">
</span><br />
<div style="text-align: center;">
<blockquote>
<span style="font-size: small;"><span style="font-family: "trebuchet ms" , sans-serif;"><a href="http://nbfcregistration.com/"><b><img alt="nbfcregistration.com" class="alignnone size-full wp-image-447" data-attachment-id="447" data-comments-opened="0" data-image-description="" data-image-meta="{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"0"}" data-image-title="88618-22710194_1999728493648742_3703240859832025088_n" data-large-file="https://nidhiregistration.files.wordpress.com/2017/11/88618-22710194_1999728493648742_3703240859832025088_n.jpg?w=1108?w=640" data-medium-file="https://nidhiregistration.files.wordpress.com/2017/11/88618-22710194_1999728493648742_3703240859832025088_n.jpg?w=1108?w=300" data-orig-file="https://nidhiregistration.files.wordpress.com/2017/11/88618-22710194_1999728493648742_3703240859832025088_n.jpg?w=1108" data-orig-size="640,640" data-permalink="https://nidhicompany.com/how-does-rbi-come-to-know-about-fake-nbfc/88618-22710194_1999728493648742_3703240859832025088_n/" height="400" src="https://nidhiregistration.files.wordpress.com/2017/11/88618-22710194_1999728493648742_3703240859832025088_n.jpg?w=1108" width="400" /></b></a></span></span></blockquote>
</div>
</div>
</li>
</ol>
<span style="font-size: small;">
</span>
<br />
<div class="head" style="box-sizing: border-box; margin-bottom: 10px; text-align: justify;">
<span style="font-size: small;"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif;"><b><span style="font-size: small;">Other Instructions</span></b></span></span></span></div>
<span style="font-size: small;">
</span>
<br />
<ol style="box-sizing: border-box; margin-bottom: 10px; margin-top: 0px; text-align: justify;" type="i">
<li style="box-sizing: border-box;"><div style="box-sizing: border-box; margin-bottom: 10px;">
<span style="font-size: small;"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif;">NBFCs financing against the collateral of gold must insist on a copy of the PAN Card of the borrower for all transaction above <span class="Rupee" style="box-sizing: border-box;">`</span>5 lakhs.</span></span></span></div>
</li>
<li style="box-sizing: border-box;"><div style="box-sizing: border-box; margin-bottom: 10px;">
<span style="font-size: small;"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif;">High value loans of <span class="head" style="box-sizing: border-box;">one lakh</span> and above must only be disbursed by cheque.</span></span></span></div>
</li>
<li style="box-sizing: border-box;"><div style="box-sizing: border-box; margin-bottom: 10px;">
<span style="font-size: small;"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif;">Documentation across all branches must be standardized.</span></span></span></div>
</li>
<li style="box-sizing: border-box;"><div style="box-sizing: border-box; margin-bottom: 10px;">
<span style="font-size: small;"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif;">NBFCs shall not issue misleading advertisements like claiming the availability of loans in a matter of 2-3 minutes.</span></span></span></div>
</li>
</ol>
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-33617385309656570942017-03-18T06:14:00.001-07:002017-03-18T06:14:12.005-07:00Bitcoin & Blockchain Technology are legal in India
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;"><br /></span></span>
</div>
<div class="entry-content" style="text-align: justify;">
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;"><a class="_58cn" href="https://www.facebook.com/hashtag/bitcoin?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">Bitcoin</span></span></a> transactions in India are legal, the RBI has just cautioned users about the risks of <a class="_58cn" href="https://www.facebook.com/hashtag/cryptocurrency?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">cryptocurrency</span></span></a> trading </span></span></div>
</blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">Join us at <a href="https://facebook.com/fintech.startup.events">facebook.com/fintech.startup.events</a></span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">Find more at <a href="http://financecenter.in/bitcoin" rel="nofollow" target="_blank">financecenter.in/bitcoin</a> </span></span></div>
</blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">There are however no official redressal mechanisms, and users
transacting with virtual currencies do so at their own risk. The RBI is
monitoring the use of Bitcoin in the country, and is in the process of
formulating regulations, including foreign exchange laws, and norms for
payment systems. The cautionary note is based on a press release by RBI
in 2013, when adoption of Bitcoin in the country was a lot less than it
is in 2017. </span></span></div>
</blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">The risks as noted by the RBI include a lack of a central framework
for resolving problems, the highly volatile and speculative nature of
the cryptocurrency due to a lack of backing by assets, trading across
various jurisdictions with unclear legal regulations, and the dangers of
being entrapped or associated with financial transactions for illegal
and illicit activities. One of the biggest problems for the RBI is in
the way the money is stored in <a class="_58cn" href="https://www.facebook.com/hashtag/digitalwallets?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">digitalwallets</span></span></a> that are prone to <a class="_58cn" href="https://www.facebook.com/hashtag/hacks?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">hacks</span></span></a>, <a class="_58cn" href="https://www.facebook.com/hashtag/malware?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">malware</span></span></a> attacks, theft and loss. </span></span></div>
</blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">How cryptocurrencies are understood in other part of world.</span></span></div>
</blockquote>
<br />
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">OZG FINTECH CENTER</span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">>> <a href="http://fintech.ozg.in/">Http://fintech.ozg.in</a></span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">>> Email: fintech@<span class="skimlinks-unlinked">ozg.co.in</span></span></span> </div>
</blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-size: large;"><span style="color: blue;"><span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;"><span style="font-size: xx-small;">China -<span style="font-family: "trebuchet ms" , sans-serif;"> </span>financecenter.in/china</span></span></span></span></div>
</blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">Early this year, the People’s <a class="_58cn" href="https://www.facebook.com/hashtag/bankofchina?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">BankofChina</span></span></a>
met with owners of Bitcoin exchanges, and cautioned the people against
the use of Bitcoin as a currency. Officially, the bank considers Bitcoin
and other cryptocurrencies as “virtual commodities” that do not enjoy
the same status as currency. The bank has also cautioned users of
Bitcoin, asking them to bear the corresponding risks and
responsibilities. <a class="_58cn" href="https://www.facebook.com/hashtag/banks?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">Banks</span></span></a> and <a class="_58cn" href="https://www.facebook.com/hashtag/financial?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">Financial</span></span></a>
institutions are prohibited from making Bitcoin transactions, and the
Bitcoin trading activities are being monitored for violations of foreign
exchange norms.</span></span></div>
</blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="color: blue;"><span style="font-family: "trebuchet ms" , sans-serif; font-size: large;"><span style="font-size: xx-small;">United States of America -<span style="font-family: "trebuchet ms" , sans-serif;"> </span><a href="http://financecenter.in/america">financecenter.in/america</a></span></span></span></div>
</blockquote>
<blockquote class="tr_bq">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">In the United States, Bitcoin is treated as property, and Bitcoin
transactions are taxed as if they were property transactions. Employers
are required to report payment of wages to employees using Bitcoin, and
these kinds of payments are subject to payroll taxes. Taxes on gain or
loss of value based on transactions depends on whether or not the
Bitcoin is held as a capital asset. Although bitcoin is commonly used as
a currency, it is not recognised as legal tender.</span></span></blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-size: large;"><span style="color: blue;"><span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;"><span style="font-size: xx-small;">United Kingdom</span></span><span style="font-size: medium;"> -
<a href="http://financecenter.in/london"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: xx-small;">financecenter.in/london</span></span></a></span></span></span></div>
</blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">Initially, Bitcoin in the UK was considered a tradeable voucher,
which was later reclassified as “private currency“, which reduced the
tax liability. Transactions to and from Bitcoin are not taxed. There are
taxes for Goods and Services sold for Bitcoin, based on the
corresponding value of the legal tender to the cryptocurrency at the
time of transaction. Income generated by Bitcoin mining activity is also
exempted from tax.</span></span></div>
</blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="color: blue;"><span style="font-family: "trebuchet ms" , sans-serif; font-size: large;"><span style="font-size: xx-small;">Russia -</span></span><span style="font-size: large;">
<a href="http://financecenter.in/russia"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: xx-small;">financecenter.in/russia</span></span></a></span></span> </div>
</blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">The Bank of Russia, like the RBI, refers to cryptocurrencies as
“virtual currency”. The Bank of Russia has issued a warning to Russian
citizens, rising the same concerns as the RBI. The speculative nature of
the currency, high risk of loss of value, and no entities that can be
held legally accountable for settling disputes. The strongly worded
warning alerts citizens of possible prosecution over cryptocurrency
transactions as the financial activity can be considered as
participating in a process that helps terrorists and criminals launder
money. The federal Tax Service in Russia has noted in a letter that
there are no legal mechanisms prohibiting Bitcoin transactions in
Russia.</span></span></div>
</blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="color: blue;"><span style="font-family: "trebuchet ms" , sans-serif; font-size: large;"><span style="font-size: xx-small;">Australia -</span></span><span style="font-size: large;">
<a href="http://financecenter.in/australia"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: xx-small;">financecenter.in/australia</span></span></a></span></span></div>
</blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">The Reserve Bank of Australia refers to cryptocurrencies as “digital
currencies“, and treats Bitcoin as property, similar to the regulations
in the United States. Bitcoin transactions themselves are regulated by
the bank, or subject to regulatory oversight. Bitcoin trades are treated
as barter trades. As Bitcoin has a steady rate of supply, a limited
availability, and cannot respond to seasonal peaks or sudden increases
in Demand (say around holiday sales seasons), Australia does not
consider any role of cryptocurrencies in the monetary policy.</span></span></div>
</blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="color: blue;"><span style="font-family: "trebuchet ms" , sans-serif; font-size: large;"><span style="font-size: xx-small;">Europe -</span></span><span style="font-size: large;">
<a href="http://financecenter.in/europe"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: xx-small;">financecenter.in/europe</span></span></a></span></span></div>
</blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">The European Banking Authority has also issued a warning to European
citizens on the hazards of using “virtual currencies.” The risks pointed
out in the warning include the potential for loss on electronic trading
platforms, there are no legal protections for the money deposited in
cryptocurrency exchanges, the virtual currencies can potentially be
stolen through electronic means, and the high volatility of the
cryptocurrencies. The EBA has gone so far as to recommend that “You
should not use ‘real’ money that you cannot afford to lose.” Virtual
currencies can be used to make payments without incurring charges, and
without a bank acting as an intermediary. Value added tax, and capital
gains tax may apply according to the country where the transaction is
occurring.</span></span></div>
</blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-size: large;"><span style="color: blue;"><span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;"><span style="font-size: xx-small;">Brazil</span></span><span style="font-size: medium;">
- <a href="http://financecenter.in/brazil"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: xx-small;">financecenter.in/brazil</span></span></a></span></span></span></div>
</blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">The Central Bank of Brazil has issued a clarification noting that
there is no regulation for Bitcoin in Brazil. The notice points out that
any regulatory oversight would put pressure on the cryptocurrencies,
and that regulations from any authority from any country can potentially
affect the prices of the cryptocurrencies, as well as the ability to
trade in them. Brazil refers to Bitcoin and similar cryptocurrencies as
virtual currencies, noting that they are different from digital
currencies.</span></span></div>
</blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-size: large;"><span style="color: blue;"><span style="font-family: "trebuchet ms" , sans-serif; font-size: medium;"><span style="font-size: xx-small;">India -</span></span><span style="font-size: medium;">
<a href="http://financecenter.in/fintech"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: xx-small;">financecenter.in/fintech</span></span></a></span></span></span></div>
</blockquote>
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">The process of formulating regulations in India is taking its own sweet time, and <a class="_58cn" href="https://www.facebook.com/hashtag/rbi?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">RBI</span></span></a> seems to be focusing more on formulating regulations for the underlying distributed <a class="_58cn" href="https://www.facebook.com/hashtag/ledgertechnology?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">ledgertechnology</span></span></a> called <a class="_58cn" href="https://www.facebook.com/hashtag/blockchain?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">blockchain</span></span></a>, rather than the virtual currencies such as Bitcoin and <a class="_58cn" href="https://www.facebook.com/hashtag/litecoin?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">Litecoin</span></span></a> that are based on <a class="_58cn" href="https://www.facebook.com/hashtag/blockchains?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">blockchains</span></span></a>.
Waiting for too long to introduce regulations is likely to disturb the
markets, platforms, apps and systems that emerge before the regulations
are in place.</span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">The world over, in times of financial insecurity, Bitcoin is considered as a <a class="_58cn" href="https://www.facebook.com/hashtag/hedge?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">hedge</span></span></a>.<br />
</span></span></div>
</blockquote>
<br />
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;"><a class="_58cn" href="https://www.facebook.com/hashtag/ozg?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">Ozg</span></span></a> <a class="_58cn" href="https://www.facebook.com/hashtag/ozgfinance?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">ozgfinance</span></span></a> <a class="_58cn" href="https://www.facebook.com/hashtag/fintech?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">fintech</span></span></a> <a class="_58cn" href="https://www.facebook.com/hashtag/ozgindia?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">ozgindia</span></span></a> <a class="_58cn" href="https://www.facebook.com/hashtag/sudeshkumarfoundation?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">sudeshkumarfoundation</span></span></a> <a class="_58cn" href="https://www.facebook.com/hashtag/fintechstartup?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">fintechstartup</span></span></a> <a class="_58cn" href="https://www.facebook.com/hashtag/fintechevents?source=feed_text&story_id=1274857212597355"><span class="_5afx"><span class="_58cl _5afz">#</span><span class="_58cm">fintechevents</span></span></a></span></span></div>
</blockquote>
<br />
<blockquote>
<div class="_5pbx userContent" id="js_3i" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">Email: fintech@<span class="skimlinks-unlinked">ozg.co.in</span></span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">W: <a href="http://fintech.ozg.in/">http://fintech.ozg.in</a></span></span></div>
</blockquote>
</div>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-8095867267647555462.post-22505708919035924552017-01-11T04:40:00.002-08:002017-01-11T04:40:43.919-08:00How to Start a Gold Loan Finance Company?<h6 style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;"><span style="color: blue;">There
are multiple ways to start gold loan business, at start-up level you
can start with money lending license or <a href="http://nidhicompany.com/">Nidhi Company</a> etc before finally jumping
to <a href="http://goldloan.nbfc.in/">gold loan NBFC</a> license by RBI.</span></span></span></h6>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span>
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">Gold is one of the most
influential financial instruments in India. Banks, NBFCs and unorganised
lenders are actively engaged in providing loans against gold value.
These loans have played a vital role by providing liquidity for an idle
asset kept in the lockers. </span></span></div>
<div class="body" style="text-align: justify;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">However, in its latest
move, the RBI has come up with a norm for NBFCs that does not allow them
to offer a loan above 60 per cent of the value of gold. </span></span></div>
<div class="body" style="text-align: justify;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">The central bank has been
uncomfortable with the high growth rate of gold loans for NBFCs and has
increased its inquiry of the gold loan portfolios, even for the banks. </span></span></div>
<div class="body" style="text-align: justify;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">The RBI wants interest
rates and growth rates on gold loans to come down, especially for NBFCs,
considering concentration risk and the risk of a fall in gold prices. </span></span></div>
<div class="body" style="text-align: justify;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">Furthermore, the RBI’s
directive that a bank credit to NBFCs for giving loans against gold
jewellery will not be treated as exposure to the agricultural sector
would hinder companies to raise easy funds for gold financing. </span></span></div>
<div class="body" style="text-align: justify;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">Some of the key points
from the RBI’s latest guidelines for NBFCs include transparency in
interest rates, due diligence in understanding the repayment capacity of
the borrower, awareness of his existing debts, explicit loan agreement,
and so on. </span></span></div>
<div class="body" style="text-align: justify;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">Also, NBFCs that have gold
loans of more than 50 per cent of total financial assets have to
maintain Tier-1 capital ratio of 12 per cent from April 2014.</span></span></div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<h3 style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">A setback for NBFCs</span></span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">The RBI’s guideline is a
setback for NBFCs because the new rules require greater capital adequacy
for the financing companies and the threshold for the value of loan
against gold is proposed to be at a lower value. </span></span></div>
<div class="body" style="text-align: justify;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">This would mean that
ornaments of the same value are expected to result in a lesser loan
amount and that too at a slightly higher cost. </span></span></div>
<div class="body" style="text-align: justify;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">Let’s check out other
aspects where NBFCs could be affected. Earlier, NBFCs used to provide up
to 80 per cent loan against the gold; now, it would be reduced to a
mere 60 per cent of the gold value. </span></span></div>
<div class="body" style="text-align: justify;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">Gold loans from banks
would now become more attractive than NBFCs until they are allowed to
lend more on the value of pledged gold. </span></span></div>
<div class="body" style="text-align: justify;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">The cost of funding for
NBFCs would go up due to the RBI’s restriction to banks to club advances
to NBFCs to finance gold loans along with other agricultural loans.
Banks will now have to lend to NBFCs at higher rates of interest. </span></span></div>
<div class="body" style="text-align: justify;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">NBFCs might also have to
reduce the interest rate to sustain hold in the gold loan market. Hence
the profit margin would come down significantly.</span></span></div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<h3 style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">Cost of funding</span></span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">Though this regulation would hit the revenue as well as bottom-line of the NBFCs there some positive aspects to this move: </span></span></div>
<div class="body" style="text-align: justify;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">A point in favour of NBFCs
is the fact that they already have a deep presence in the gold loan
market. At present, NBFCs have a 32 per cent share of the total gold
loan market. The gold loan would still be cheaper than the personal
loan; so, the size of market is set to grow bigger in coming days. </span></span></div>
<div class="body" style="text-align: justify;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">There are many untapped localities where NBFCs could have a better reach than the banks. </span></span></div>
<div class="body" style="text-align: justify;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">The advantage of
trouble-free and quick loan processing by NBFCs would give them the edge
over the banks. NBFCs can raise funds through market borrowings, that
is, commercial papers to lower the cost of the fund.</span></span></div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<h3 style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">On gold loans</span></span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">The RBI’s recent
regulations have hit the top as well as bottomline of the NBFCs. In
India, gold buying is a regular process, and the attraction to the
yellow metal is expected to continue.. </span></span></div>
<div class="body" style="text-align: justify;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">The regulations may
negatively affect the gold loan business in the short term for NBFCs
but, in the long term, the overall gold loan market is set to grow as
long as the demand for gold is growing in the country.</span></span></div>
<div class="body" style="text-align: justify;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<div class="body" style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">Hindu / Mar 1, 2013</span></span></div>
<div class="body" style="text-align: justify;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;"><b>eMAIL:</b> ask@<span class="skimlinks-unlinked">nbfc.in</span></span></span></div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span>
<div style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;"><b>W:</b> <a href="http://goldloan.nbfc.in/">goldloan.nbfc.in</a></span></span></div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;">
</span></span><br />
<h6 style="text-align: justify;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: small;"><i><b>Interested
to Make application for Gold Loan Company or get advisory and solution
regarding it’s legal compliance then feel free to make a </b></i><b>call back request.</b></span></span><i><b><br />
</b></i></h6>
Unknownnoreply@blogger.com