Housing financial companies notified under SARFAESI Act as financial institutions

Housing financial companies notified under SARFAESI Act as financial institutions if registered with NHB & assets worth of at least 100 crores

MINISTRY OF FINANCE
(Department of Financial Services)

NOTIFICATION

New Delhi, the 17th June, 2021

S.O.2405(E).—In exercise of the powers conferred by sub-clause (iv) of clause (m) of sub-section (1) of section 2 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), and in supersession of the notifications of the Government of India, Ministry of Finance numbers S.O.1282 (E), dated the 10th November, 2003, S.O. 1083 (E) dated 16th March, 2006, S.O. 2757 dated 19th September, 2007, S.O. 1516(E) dated 23rd June, 2010, S.O. 3466 (E) dated 18th December, 2015, and S.O.404(E) dated 22nd January, 2018, except as respects things done or omitted to be done before such supersession, the Central Government hereby specifies such housing financial companies registered under sub-section (5) of section 29A of the National Housing Bank Act, 1987 (53 of 1987), having assets worth rupees one hundred crore and above, as financial institutions for the purposes of the said Act.

[F. No. 31/48/2018 -DRT]

VANDITA KAUL, Addl. Secy.

• Delay in furnishing Form 10B – Covid Period to be excluded as per decision of Supreme Court
• Section 271AAB does not grant any immunity from penalty in terms of section 273B
• Engagement of ‘Young Professional’ in the office of the PCCT Bihar & Jharkhand
• CGPDTM invites applications for hiring contractual manpower and Young Professionals
• Sundry creditors can’t be treated income u/s 41(1) because recovery barred by limitation