Formation of a nbfc company

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Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2013 hi,
I want to know if a NBFC can be formed with a Paid up capital of minimum Rs. 100000/- only as General Company which do not require to accept Deposit but to act as NBFC.

Ajay Mishra

Ajay Mishra (Expert)

21 September 2013 Hi

The procedure is same but additional requirement is to maintain net worth of two crore at the time of incorporation of company.

So you company paid up capital should be 2 crores at the time of incorporation.

 Reserve Bank of India vide its Notification No. DNBS 132 / CGM (VSNM) – 99, dated 20/04/1999 has increased the requirement of “net owned fund” from Rs.25 lakh to Rs.200 Lakh for the NBFC which commences business of a non-banking financial institution on or after April 21, 1999.

Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2013 Actually, I am confused with this notification, I think the minimum net worth requirement is only for the NBFCs accepting Public Deposit. And if the NBFC is not accepting the Deposit, then there is no requirement of MInimum 2 Crores Net worth as well as RBI Permission to commence the business.,

Please Clear my Doubt.
Thanks

Ajay Mishra

Ajay Mishra (Expert)

21 September 2013 I will suggest you to read Name availability guidelines, 2011 it will help you.

Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2013 I am not getting anything there in regards to my doubt.

Ajay Mishra

Ajay Mishra (Expert)

21 September 2013 Then You contact to ROC officials they will clarify the same.

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