RBI / 2008-09/167 DNBS.PD. CC No. 128 / 03.02.059 /2008-09 dated September 15, 2008
As substantial time has elapsed, since the issue of the Circular to approach Regional Office in their jurisdiction duly supported by statutory auditors' certificate indicating the asset / income pattern of the companies as on March 31, 2006, it has now been decided that erstwhile Equipment Leasing (EL) and Hire-Purchase (HP) NBFCs should, duly supported by Statutory Auditors’ Certificate as on March 31, 2008, immediately approach the Regional Office concerned for appropriate classification latest by December 31, 2008 after which NBFCs which have not opted for the classification would be deemed to be loan companies.
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