Question
Which of the following entities is considered a "factor"
according to the Factoring Regulation Act, 2011?Solution
Explanation: Section 2 Definitions: (i) “factor” means a non-banking financial company as defined in clause (f) of section 45-I of the Reserve Bank of India Act, 1934 which has been granted a certificate of registration under sub-section (1) of section 3 or anybody corporate established under an Act of Parliament or any State Legislature or any Bank or any company registered under the Companies Act, 1956 engaged in the factoring business.
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