30 May 2017
thank you. i want to be clarify that chit fund companies regulated by state govt- register of chits. as earlier, if want to start chit fund activity, first incorporation with ROC - CHIT ACTIVITY AS MENTIONED THAT- CHIT FUND PRIVATE LTD specifically with as PVT COY INCORPORATION.IS THERE ANY CIRCULAR/NOTIFICATION. RBI, GUIDE LINES ON NBFC. CHIT IS BEING REGULATED BY STATE GOVT AUTHORITIES./NO NEED OF RBI APPROVAL/ PL. ENLIGHTEN .
31 May 2017
yes, in that case first you need to incorporate a pvt company if less than 7 members then through espice form and if more than 7 members then through inc - 7, by stating object of chit fund company and thereafter getting approval from respective ROC, you can go to registrar of chit fund of respective state govt for approval. you can start operation only after getting approval from the state govt.
CAclubindia
