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TypeBare Act JurisdictionCentral Government

Factoring Regulation Act, 2011, (Central) Section 6

Powers of Reserve Bank to Give Directions and to Collect Information from Factors

~1 min read
https://sooperkanoon.com/act/64014

Bare act section · Research

About this section

Factoring Regulation Act, 2011, (Central) Section 6 is part of Factoring Regulation Act, 2011, (Central) - Powers of Reserve Bank to Give Directions and to Collect Information from Factors. Read the section text below and explore Indian court judgments that cite it.

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Section Text

(1) The Reserve Bank may, at any time by general or special order, direct that every factor shall furnish to it, in such form, at such intervals and within such time, such statements, information or particulars relating to factoring business undertaken by the factor, as may be specified by the Reserve Bank from time to time.

(2) The Reserve Bank may, if it considers necessary in the interest of business enterprises availing factoring services or in the interest of factors or interest of other stake holders give directions to the factors either generally or to any factor in particular or group of factors in respect of any matters relating to or connected with the factoring business undertaken by such factors.

(3) If any factor fails to comply with 'any direction given by the Reserve Bank under sub-section (2), the Reserve Bank may prohibit such factor from undertaking the factoring business: Provided that before prohibiting any factor from undertaking the factoring business, the factor shall be given a reasonable opportunity of being heard.

Frequently asked questions

What does Factoring Regulation Act, 2011, (Central) Section 6 provide?

Section Section 6 of the Factoring Regulation Act, 2011, (Central) (Powers of Reserve Bank to Give Directions and to Collect Information from Factors) is reproduced on this page as part of the Factoring Regulation Act, 2011, (Central). Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Factoring Regulation Act, 2011, (Central) Section 6?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Factoring Regulation Act, 2011, (Central) Section 6. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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