Driven by excellence, focused on strategies for the longer term.

This is the crux of who we are. It is an articulation of precision in purpose, from the Firm’s beginnings to where we are today. Our collective eye is unerringly trained on tomorrow.

Deep sectoral expertise across services and industries.

Our insistence on strategic advisory exacts an in-depth understanding of and involvement with our clients’ businesses and industries. We engage not just individual businesses, but also contribute to the country’s legal and regulatory frameworks.

Personal commitment supported by experience and grit.

We commit early. We pull together internally for greater support. Every effort is sincere, every individual deeply dedicated to their task, their role, to the Firm.

Our undertakings for long-term impact are an organic extension of our purpose.

They are to employ our deep knowledge of the law beyond the business, the transaction, the deal. To use the opportunities and skills we possess, to reflect on the culture we’re creating. Individually and collectively, these are our efforts to help shape the thinking of our future generations, and arm them with strategies for true, sustainable growth.

Knowledge-sharing is intrinsic to equity and inclusivity.

This is a repository of thought leadership, deep insights and strong viewpoints, legal and other news and events and how they impact the industry and our clients.

Relevance is critical to growth. It necessitates a firm that is dynamic and responsive.

Amplifying intrinsic talent, sharpening skills, expanding knowledge, is vital to leading. It defines every aspect of how our firm functions and transacts. This is how we create new benchmarks and set industry standards.

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Mar 01, 2018

Ombudsman Scheme for Non-Banking Financial Companies, 2018

RBI, by its notification dated February 23, 2018, notified the Ombudsman Scheme for NBFCs, 2018 (‘Ombudsman Scheme’) to regulate the credit system of the country and to provide for a system of ombudsman for redressal of complaints against deficiency in services concerning deposits, loans and advances and other specified matters.NBFCs registered with the RBI under Section 45-IA of the RBI Act, 1934 which (i) are authorised to accept deposits; or (ii) have customer interface, with assets size of Rs. 1 billion (approx. US$ 15 million) or above, as on the date of the audited balance sheet of the previous financial year, or of any such asset size as the RBI may prescribe, should comply with the Ombudsman Scheme, whereas, NBFC–infrastructure finance company, core investment company, infrastructure debt fund–NBFC and an NBFC under liquidation, are excluded from the ambit of the Ombudsman Scheme.The Ombudsman Scheme came into force on February 23, 2018 and is being introduced at the four metro centers viz. Chennai, Kolkata, Mumbai and New Delhi.

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DISCLAIMER

These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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