8. Non-Banking Financial Company Any hire purchase finance, housing finance, investment loan, equipment leasing or mutual benefit financial company, but does not include an insurance company or a stock Exchange or a stockbroking company. 9. Miscellaneous Non-Banking Company: A company carrying on all or any of the following types of business (1) Managing, conducting or supervising as a promoter, foreman or agent of any transaction or arrangement by which the company enters into an agreement with a specified number of subscribers that everyone of them shall subscribe a certain sum in instalments over a definite period and that everyone of such subscribers shall in his turn as determined by lot or by auction or by tender or in such other manner as maybe provided for in the agreement be entitled to the prize amount.
