Company Law
This query is : Resolved
Sanjay Grover
(Querist)
21 December 2010
What is the Authorised and paid up share capital requirement for registration as investment company in India
Ajay Mishra
(Expert)
21 December 2010
Hi
NON BANKING FINANCIAL COMPANIES
Companies, which are not banking companies but are engaged in the business activities, related to loan, finance, investment, leasing, hire purchase and other fund-based activities, are termed s Non-Banking Financial Companies. The basic criteria of a company to be considered as NBFC, are:
1. Deployment of funds, and
2. Recognition of Income
There are certain criteria for NBFC Companies viz. Compulsory registration with RBI for commencement/continuance of NBFC activities, Minimum Net Owned Fund, requirement of compulsory rating and RBI compliance before acceptance of deposits etc.
Minimum Authorized Capital **(and not paid-up capital)* for a NBFC should
be Rs. 2 Crores and
it cannot commence its business without obtaining the certificate from RBI
and its minimum net owned funds should be Rs. 2 Crores.
Regards
NON BANKING FINANCIAL COMPANIES
Companies, which are not banking companies but are engaged in the business activities, related to loan, finance, investment, leasing, hire purchase and other fund-based activities, are termed s Non-Banking Financial Companies. The basic criteria of a company to be considered as NBFC, are:
1. Deployment of funds, and
2. Recognition of Income
There are certain criteria for NBFC Companies viz. Compulsory registration with RBI for commencement/continuance of NBFC activities, Minimum Net Owned Fund, requirement of compulsory rating and RBI compliance before acceptance of deposits etc.
Minimum Authorized Capital **(and not paid-up capital)* for a NBFC should
be Rs. 2 Crores and
it cannot commence its business without obtaining the certificate from RBI
and its minimum net owned funds should be Rs. 2 Crores.
Regards
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