Executive Summary:
This document contains three notifications from the Ministry of Finance, Department of Financial Services, published on January 22, 2018. The notifications pertain to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. They specify certain housing finance companies as financial institutions and make amendments to previous notifications regarding the same.
Key Points / Main Content:
Specification of Housing Finance Companies:
* Fullerton India Home Finance Company Limited is specified as a financial institution.
* Hinduja Housing Finance Limited is specified as a financial institution.
* Khush Housing Finance Private Limited is specified as a financial institution.
(These companies must be registered under subsection 5 of section 29 A of the National Housing Bank Act, 1987 and have a Tier I capital of ten crore rupees and above.)
Amendments to Notification S.O. 1282E, dated November 10, 2003:
* Serial number 5 and its entries are omitted.
* Serial number 9 and its entries are substituted with "Sundaram BNP Paribas Home Finance Limited."
* Serial number 10 and its entries are omitted.
* Serial number 12 and its entries are omitted.
* Serial number 14 and its entries are omitted.
* Serial numbers 15 and 16 and their entries are substituted with "DHFL Vysya Housing Finance Limited" and "Religare Housing Development Finance Corporation Limited" respectively.
* Serial number 17 and its entries are omitted.
* Serial number 18 and its entries are substituted with "L T Housing Finance Limited."
* Serial number 19 and its entries are omitted.
* Serial number 23 and its entries are omitted.
Amendment to Notification S.O. 3466 E, dated December 18, 2015:
* Serial number 10 and the entries relating thereto are omitted.
Impact Analysis:
Housing Finance Companies:
* Impact: Fullerton India Home Finance Company Limited, Hinduja Housing Finance Limited, and Khush Housing Finance Private Limited are now specified as financial institutions under the Act. Sundaram BNP Paribas Home Finance Limited, DHFL Vysya Housing Finance Limited, Religare Housing Development Finance Corporation Limited, L T Housing Finance Limited have updates to their listing. The other Housing Finance Companies that were omitted are no longer listed.
* Action Required: Ensure compliance with the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Review internal processes and procedures to align with the updated notifications.
Central Government/Ministry of Finance:
* Impact: These notifications formalize the government's position on which housing finance companies are considered financial institutions under the Act and amends previous notifications.
* Action Required: Maintain records of the updated notifications and ensure consistent application of the Act.
Financial Institutions and Related Parties:
* Impact: The notifications clarify which entities are considered financial institutions, which affects their rights and obligations under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
* Action Required: Review business practices and legal compliance to ensure alignment with the updated list of financial institutions.
Key Entities Referenced
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002: An Act of the Indian Parliament related to the securitization and reconstruction of financial assets and enforcement of security interest.
National Housing Bank Act, 1987: An Act of the Indian Parliament related to the establishment and regulation of the National Housing Bank.
Fullerton India Home Finance Company Limited: A housing finance company specified as a financial institution under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
Hinduja Housing Finance Limited: A housing finance company specified as a financial institution under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
Khush Housing Finance Private Limited: A housing finance company specified as a financial institution under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
Ministry of Finance: A ministry of the Government of India.
Department of Financial Services: A department under the Ministry of Finance.
New Delhi, Delhi: The capital city of India, where the notification was issued.
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EXTRAORDINARY
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PART II—Section 3—Sub-section (ii)
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No. 351] NEW DELHI, THURSDAY, JANUARY 25, 2018/MAGHA 5, 1939
ििििवववव(cid:3)(cid:3)(cid:3)(cid:3) मममम(cid:7)(cid:7)ंं(cid:7)(cid:7)ंं ााााललललयययय
((((ििििवववव(cid:3)(cid:3)(cid:3)(cid:3)ीीीीयययय ससससववववेेेे ााााएएएए ंं ंंििििववववभभभभाााागगगग))))
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:4)द(cid:6)ली, 22 जनवरी, 2018
ककककाााा.... आआआआ.... 444400004444((((अअअअ))))....————क(cid:10)(cid:11)ीय सरकार, िव(cid:15) तीय आि(cid:18)तय(cid:19) का (cid:21)ितभिू तकरण और पुनग(cid:30)ठन तथा (cid:21)ितभिू त िहत का
(cid:21)वत(cid:30)न अिधिनयम, 2002 (2002 का 54) क( धारा 2 क( उप-धारा (1) के ख/ड (ड) के उप-ख/ड (iv) के 1ारा (cid:21)द2 शि4य(cid:19)
का (cid:21)योग करत े 6ए, रा8ीय आवास बक; अिधिनयम, 1987 (1987 का 53) के अतं गत(cid:30) पंजीकृत क( गई िनCिलिखत आवास
िव2 कंपिनय(cid:19), िजनक( अिं तम लेखापरीिDत तुलन-पE के अनुसार टीयर-I पूंजी दस करोड़ Hपय े या इसस े अिधक ह,ै उ4
अिधिनयम के (cid:21)योजन हते ु“िव2ीय सं(cid:18)थान” के Kप म (cid:10)िनLदM(cid:30) करती ह,ै अथात(cid:30) ् :-
(cid:11)(cid:11)(cid:11)(cid:11)मममम सससस ंं ंं आआआआववववाााासससस ककककंंंंपपपपननननीीीी ककककाााा ननननाााामममम
1. फुललरे टोन इंिडया होम फ़ाइनस(cid:10) कंपनी िलिमटेड
2. Qहंदजु ा हाउQसंग फ़ाइनस(cid:10) िलिमटेड
3. खुश हाउQसंग फ़ाइनस(cid:10) (cid:21)ाइवेट िलिमटेड
[फा. स.ं 07/10/2016-डीआरटी]
वं(cid:4)दता कौल, संयुS त सिचव
525 GI/2018 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 22nd January, 2018
S.O. 404(E).—In exercise of the powers conferred by sub-clause (iv) of clause (m) of sub-section (1)
of section 2 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest
Act, 2002 (54 of 2002) (the said Act), the Central Government hereby specifies the following housing finance
companies, registered under sub-section (5) of section 29 A of the National Housing Bank Act, 1987 (53 of
1987) and with Tier I capital of ten crores rupees and above as per their latest audited balance sheet, as the
“financial institution” for the purpose of the said Act, namely :-
Sr.No. Name of the Housing Finance Company
1. Fullerton India Home Finance Company Limited.
2. Hinduja Housing Finance Limited.
3. Khush Housing Finance Private Limited.
[F. No. 07/10/2016-DRT]
VANDITA KAUL, Jt. Secy.
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:4)द(cid:6)ली, 22 जनवरी, 2018
ककककाााा.... आआआआ.... 444400005555((((अअअअ))))....————क(cid:10)(cid:11)ीय सरकार, िव(cid:15) तीय आि(cid:18)तय(cid:19) का (cid:21)ितभिू तकरण और पुनग(cid:30)ठन तथा (cid:21)ितभिू त िहत का
(cid:21)वत(cid:30)न अिधिनयम, 2002 (2002 का 54) क( धारा 2 क( उप-धारा (1) के ख/ ड (ड) के उप-ख/ ड (iv) के 1ारा (cid:21)द(cid:15) त शि4य(cid:19)
का (cid:21)योग करते 6ए, भारत सरकार, िव(cid:15)त मंEालय (आTथ(cid:30)क काय(cid:30) िवभाग) 10 नवU बर, 2003 क( अिधसूचना स.ं का. आ.
1282(अ) म (cid:10)िनUन िलिखत संशोधन करती ह,ै अथा(cid:30)त् :—
उSत अिधसूचना म,(cid:10)-
(क) Xम स.ं 5 और इससे संबंिधत (cid:21)िविMय(cid:19) का लोप (cid:4)कया जाएगा;
(ख) Xम सं. 9 और इससे संबंिधत (cid:21)िविMय(cid:19) के (cid:18)थान पर िनUन िलिखत Xम संख य् ा और (cid:21)िविMय(cid:19) को रखा जाएगा,
अथा(cid:30)त ्:-
“9. सुYदरम बीएनपी पZरबास होम फाइनस(cid:10) िलिमटेड”;
(ग) Xम स.ं 10 और इससे संबिं धत (cid:21)िविMय(cid:19) का लोप (cid:4)कया जाएगा;
(घ) Xम स.ं 12 और इसस ेसंबंिधत (cid:21)िविMय(cid:19) का लोप (cid:4)कया जाएगा;
(ङ) Xम स.ं 14 और इससे संबिं धत (cid:21)िविMय(cid:19) का लोप (cid:4)कया जाएगा;
(च) Xम स.ं 15 और 16 और इसस े संबंिधत (cid:21)िविMय(cid:19) के (cid:18) थान पर Xमश: िनU निलिखत Xम स[ं य ा और (cid:21)िविMय(cid:19)
को रखा जाएगा, अथा(cid:30)त ्:-
“15. डीएचएफएल वै\य हाउंि◌सग फाइन(cid:10)स िलिमटेड,
16. रेिलगेयर हाउQसंग डेवलेपम(cid:10)ट फाइन(cid:10)स कारपोरेशन िलिमटेड”;¹Hkkx IIµ[k.M 3(ii)º Hkkjr dk jkti=k % vlk/kj.k 3
(छ) Xम स.ं 17 और इसस ेसंबंिधत (cid:21)िविMय(cid:19) का लोप (cid:4)कया जाएगा;
(ज) Xम स.ं 18 और इसस े संबंिधत (cid:21)िविMय(cid:19) के (cid:18)थान पर िनUन िलिखत Xम सं[य ा और (cid:21)िविMय(cid:19) को रखा जाएगा,
अथा(cid:30)त ्:-
“18. एल एंड टी हाउQसंग फाइन(cid:10)स िलिमटेड”;
(झ) Xम स.ं 19 और इससे संबिं धत (cid:21)िविMय(cid:19) का लोप (cid:4)कया जाएगा;
(ञ) Xम स.ं 23 और इसस ेसंबंिधत (cid:21)िविMय(cid:19) का लोप (cid:4)कया जाएगा।
[फा. स.ं 07/10/2016-डीआरटी]
वं(cid:4)दता कौल, संयुS त सिचव
(cid:13)(cid:13)(cid:13)(cid:13)टटटट(cid:15)(cid:15)(cid:15)(cid:15)पप पप णणणणीीीी :::: मलू अिधसूचना भारत के राजपE असाधारण म (cid:10)का आ 1282 (अ), 10 नवU बर, 2003 1ारा (cid:21)कािशत क( गई भी ।
NOTIFICATION
New Delhi, the 22nd January, 2018.
S.O. 405(E).—In exercise of the powers conferred by sub-clause (iv) of clause (m) of sub-section
(1) of section 2 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security
Interest Act, 2002 (54 of 2002), the Central Government hereby makes the following amendments in the
notification of the Government of India in the Ministry of Finance (Department of Economic Affairs),
number S.O. 1282(E), dated the 10th November, 2003, namely:-
In the said notification, -
a) serial number 5 and the entries relating thereto shall be omitted;
b) for serial number 9 and entries relating thereto, the following serial number and entries shall be
substituted, namely:-
“9. Sundaram BNP Paribas Home Finance Limited”;
c) serial number 10 and the entries relating thereto shall be omitted;
d) serial number 12 and the entries relating thereto shall be omitted;
e) serial number 14 and the entries relating thereto shall be omitted;
f) for serial number 15 and 16 and the entries relating thereto, the following serial numbers and
entries shall respectively be substituted, namely:-
“15. DHFL Vysya Housing Finance Limited,
16. Religare Housing Development Finance Corporation Limited”;
g) serial number 17 and the entries relating thereto shall be omitted;
h) for serial number 18 and the entries relating thereto, the following serial number and entries shall
be substituted, namely:-4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
“18. L& T Housing Finance Limited,”;
i) serial number 19 and the entries relating thereto shall be omitted;
j) serial number 23 and the entries relating thereto shall be omitted.
[F. No. 07/10/2016-DRT]
VANDITA KAUL, Jt. Secy.
Note : The principal notification was published in the Gazette of India, Extraordinary, vide
notification number S.O. 1282(E), dated the 10th November, 2003.
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:4)द(cid:6)ली, 22 जनवरी, 2018
ककककाााा.... आआआआ.... 444400006666((((अअअअ))))....————क(cid:10)(cid:11)ीय सरकार, िव(cid:15) तीय आि(cid:18)तय(cid:19) का (cid:21)ितभिू तकरण और पुनग(cid:30)ठन तथा (cid:21)ितभिू त िहत का
(cid:21)वत(cid:30)न अिधिनयम, 2002 (2002 का 54) क( धारा 2 क( उपधारा (1) के ख/ ड (ड) के उपख/ ड (iv) के 1ारा (cid:21)द(cid:15) त शि4य(cid:19)
का (cid:21)योग करते 6ए, भारत सरकार, िव(cid:15)त मंEालय (िव(cid:15) तीय सेवाएं िवभाग) 18 (cid:4)दसU बर, 2015 क( अिधसूचना स.ं का. आ.
3466(अ) म (cid:10)िनUन िलिखत संशोधन करती ह,ै अथा(cid:30)त् :—
उSत अिधसूचना म,(cid:10) Xम सं . 10 और इससे संबिं धत (cid:21)िविMय(cid:19) का लोप (cid:4)कया जाएगा ।
[फा. स.ं 07/10/2016-डीआरटी]
वं(cid:4)दता कौल, संयुS त सिचव
(cid:13)(cid:13)(cid:13)(cid:13)टटटट(cid:15)(cid:15)(cid:15)(cid:15)पप पप णणणणीीीी :::: मूल अिधसूचना भारत के राजपE, असाधारण म(cid:10) का. आ. 3466 (अ), 18 (cid:4)दसU बर, 2015 1ारा (cid:21)कािशत क( गई थी ।
NOTIFICATION
New Delhi, the 22nd January, 2018.
S.O. 406(E).—In exercise of the powers conferred by sub-clause (iv) of clause (m) of sub-section
(1) of section 2 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security
Interest Act, 2002 (54 of 2002), the Central Government hereby makes the following amendment in the
notification of the Government of India, in the Ministry of Finance (Department of Financial Services),
number S.O. 3466 (E), dated the 18th December, 2015, namely:-
In the said notification, serial number 10 and the entries relating thereto shall be omitted;
[F. No. 07/10/2016-DRT]
VANDITA KAUL, Jt. Secy.
Note : The principal notification was published in the Gazette of India, Extraordinary, vide notification
number S.O. 3466 (E), dated the 18th December, 2015.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.