CA Sumat Singhal
(Credit Analyst/ Financial Services/ Accounts & Finance)
(3677 Points)
Replied 18 February 2011
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You don't have to convert the Pvt. Ltd. Co. into NBFC. You have to get your company registered as an NBFC with the RBI. Please contact your zonal / regional RBI office for the Forms, annexures and disclosres to be made with the application. Originally posted by : Vineet Kumar Sharma |
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What is the Procedure & Fees to get registered any Co. as A NBFC? |
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CA Sumat Singhal
(Credit Analyst/ Financial Services/ Accounts & Finance)
(3677 Points)
Replied 18 February 2011
| Originally posted by : Vineet Kumar Sharma | ||
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What is the Procedure & Fees to get registered any Co. as A NBFC? |
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There is no procedure to convert a public company into NBFC. Please understand that registration as NBFC is done by RBI. Hence, the conversion from public co. to nbfc does not arise. You have to fill the necessary documents and comply with the procedure mentioned in the RBI guidelines for registering your company as an NBFC. Please contact your regional RBI office.
Every RBI office has a cell which handles all NBFC's under the region and also does registration of new nbfc's.
The basic criterion are:
1) 50% of total assets have to be financial assets, and
2) 50% of total income should come from financial assets.
Both have to be satisfied.
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