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Ekansh AironEkansh Airon asked 1 month ago

In Q8, Page 11.35 of Study Mat, a person primarily engaged in selling of computer parts. However, he fulfills the 50:50 test. It is considered as  EXCEPTION REPORTING. How did we come to such a conclusion? Is it because he did not get himself registered as per 45IA and thereby contravening Chapter IIIB of RBI Act,1934? Basically, how do we identify Exception Reporting (Para 5) questions?

2 Answers
RaviRavi Staff answered 1 month ago

any company which fulfils 50:50 test is considered as NBFC
it is mandatory for them to get Certificate of Registration by RBI
if they dont do it then it is non compliance and hence reporting needs to be done to BOD & RBI under NBFC reporting directions 2016. When we report non-compliance it is called exception reporting.

RaviRavi Staff answered 1 month ago

we report on all clauses to BOD, we only report on non compliance to RBI

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