Working Group on Core Investment Companies

On 6th November, 2019, Working Group (WG) on Core Investment Companies (CICs) submitted its final report to the Reserve bank of India (RBI).

  • The WG was constituted in July 2019 by RBI under the chairmanship of former corporate affairs secretaryTapan Ray, to review the regulatory and supervisory frameworkapplicable to CICs.
  • It aims to strengthen the corporate governance framework of CICs.

Issues Identified by WG

  1. Complex Group Structure: The Section 186 (1) of Companies Act, 2013 (which restricts the Group Structure to a maximum of two layers) is not applicable to NBFCs, which renders opacity to the groups in terms of ....

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