Can private ltd company do finance business
This query is : Open
09 February 2014
good mornings dear experts
One of my relatives are into money lending business and real estate business. They finance money to general public, companies, real estate developers and so on.
Now he wants to make this business legalise by floating a Private Ltd company.
As of now he do not have funds to incorporate an NBFC.
Sir what is the remedy to this situation..?
Is there any other alternative to do such money lending business..?
One of my relatives are into money lending business and real estate business. They finance money to general public, companies, real estate developers and so on.
Now he wants to make this business legalise by floating a Private Ltd company.
As of now he do not have funds to incorporate an NBFC.
Sir what is the remedy to this situation..?
Is there any other alternative to do such money lending business..?
10 February 2014
well you may circumvent the law but as such NBFC regulations are required to complied for such a business.
13 February 2014
you need to take permission from rbi and need to comply the norms meant for operating as NBFC.
21 February 2014
Thank you all very much for the reply..
Sir as i already told that, as of now we do not want to start NBFC for the lack of funds.
we want to start a private company for "Money Lending" only to the Individuals, Firms, Companies, REal Estate business people..etc.,
does this business requires RBI permission and license and if so where to apply and what is the procedure to initiate this work..
on the other hand can we directly go for PVT comp incorporation with our ROC..?
thanks in advance
Sir as i already told that, as of now we do not want to start NBFC for the lack of funds.
we want to start a private company for "Money Lending" only to the Individuals, Firms, Companies, REal Estate business people..etc.,
does this business requires RBI permission and license and if so where to apply and what is the procedure to initiate this work..
on the other hand can we directly go for PVT comp incorporation with our ROC..?
thanks in advance
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