A CIC-ND-SI is an NBFC (Non-Banking Financial Company)
• with asset size of Rs 100 crore or more,
• carrying on the business of acquiring shares & securities and satisfying the following conditions as on the date of the last audited balance sheet:
o holds not less than 90% of its net assets in the form of investment in equity shares, preference shares, debentures, bonds, debt or loans in group companies.
o investments in equity shares (includes instruments, compulsorily convertible into equity shares within maximum 10-years from the date of issue) in group companies constitutes not less than 60% of its net assets.
o does not trade in its investments in shares, debentures, bonds, debt or loans in group companies except by block sale for dilution or disinvestment.
o does not carry on any other financial activity referred to in Section 45I(c) and 45I(f) of the RBI act, 1934 except investing in bank deposits, government securities, money market instruments, loans to and investments in debt issuances of group entities or guarantees issued on account of group companies.
o accepts public funds.