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RBI has also reduced the number of documents an entity has to furnish along with the application form to register as a CIC from 52 to 18.
“In the event of the Reserve Bank calling for further documents in addition to those mentioned in the list, the applicant company must respond within a stipulated time of one month”, RBI said in a statement on Monday.
Among the documents the entity seeking registration as a CIC has to furnish are: Audited balance sheets and profit & loss accounts for the past three year, along with directors & auditors report, or for such shorter period as are available, business plan of the company for the next three years, and projected balance sheets.
Further, the entity has to submit credit bureau ratings of its directors of the company, board resolution to the effect that the company has not accepted/solicited any public deposit and will not accept the same in future without the prior approval of Reserve Bank of India in writing, among other things.
First Published: Apr 10 2023 | 7:26 PM IST
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