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Formation of nbfc being loan company

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(Querist)
07 August 2017 DEAR EXPERTS..

I WOULD LIKE TO KNOW THAT WHEN WE FILE FORM 1 FOR FORMATION OF THE LLP TO AVAIL NAME IT SAYS THAT THE ACTIVITY IS FALLING UNDER NBFC AND WE NEED TO PROVIDE RBI IN PRINCIPAL APPROVAL FOR FILING FORM 2 FURTHER.

HOW THE IN PRINCIPAL APPROVAL OF THE RBI CAN BE OBTAINED AS THE FINAL APPROVAL/REGISTRATION WITH RBI FOR NBFC CAN BE OBTAINED ONLY AFTER INCORPORATION OF THE COMPANY/LLP.

ALSO IT SAYS TO HAVE NOF OF 2.00 CRORE IN THE LATEST AUDITED BALANCE SHEET. DOES IT MEAN THAT IT IS NOT NECESSARY TO HAVE CAPITAL OF 2.00 CRORE AT THE TIME OF FILING OF THE FORMS AND INCORPORATION?

PLS ADVISE AS SOON AS POSSIBLE
THANKS IN ADVANCE
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RICHA KUMAR

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RICHA KUMAR (Expert)
10 August 2017 In case of LLP prior approval of RBI is required for opening an NBFC LLP
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