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Auto finance co.

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(Querist)
25 September 2014 I want to start a pvt. ltd. co. under which i will provide real estate consultancy and auto finance business. but in this business i will not accept deposits from public but only money form share holder as a share application money. please suggest if i will not accept money from public, i required to register as a NBFC or not? as on the RBI website it is provide that deposits from shareholder by private ltd. co. is not covered under deposit. please suggest.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
25 September 2014 as I said earlier, it is not the deposit from shareholder that attracts NBFC regulations. it is the act of lending that cause NFBC regulations to apply.
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