BUSINESS ADMINISTRATION
BUSINESS LAW
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Businesses are allowed to setup anywhere, as long as they are registered and have the funds available.
|
|
False
|
|
|
True
|
Explanation:
Detailed explanation-1: -Yes. An entity not registered with the Bank may not conduct the business of factoring unless it is an entity mentioned in Section 5 of the Act i.e. a bank or any corporation established under an Act of Parliament or State Legislature, or a Government Company as defined under section 617 of the Companies Act, 1956.
Detailed explanation-2: -"insurance company” means any company registered under section 3 of the Insurance Act, 1938 (4 of 1938); “investment company” means any company which is a financial institution carrying on as its principal business the acquisition of securities; “lending public financial institution” means-
There is 1 question to complete.