The Reserve Bank of India through circular dated August 25, 2021 has notified Housing Finance Companies (HFCs) as ‘Financial Institutions’. The HFCs registered under of National Housing Bank Act, 1987 and having assets worth ₹100 crore & above, shall qualify as ‘Financial Institution’ under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).
Winding up bankrupt companies: new process
This regulation mandates that, after securing approval from the Committee of Creditors (CoC) with at least 66% of the votes, the Resolution Professional (RP) must