Nbfc
This query is : Resolved
04 March 2013
What is the requirement to form NBFC? There is one condition that u must net owned fund of Rs.2 crores is it applicable to Pvt. Ltd. company also?
Ajay Mishra
(Expert)
04 March 2013
Hi
Yes, it will apply on both public as well as private limited company.
The net owned fund is based on the business of the company not on the basis of type of the company.
NBFC have to make application for registration with RBI and shall not commence or carry on business of a non-banking financial institution without obtaining registration from RBI and maintaining NOF.
NOF requirement for NBFC registered
Before 21/04/1999 = Rs.25 lacs
On or after 21/04/1999 = Rs.200 lacs
Yes, it will apply on both public as well as private limited company.
The net owned fund is based on the business of the company not on the basis of type of the company.
NBFC have to make application for registration with RBI and shall not commence or carry on business of a non-banking financial institution without obtaining registration from RBI and maintaining NOF.
NOF requirement for NBFC registered
Before 21/04/1999 = Rs.25 lacs
On or after 21/04/1999 = Rs.200 lacs
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