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De-Registration of NBFC

Jaideep (Service) (1368 Points)

31 March 2011

Dear All

If a non deposit taking NBFC does not fulfil the criteria of NBFC and not carrying NBFC business, is it essential to get itself deregistered with RBI?

What is the procedure of deregistration of NBFC with RBI?

Regards

Jaideep Pandya

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4 Replies

Komal Gupta (Company Secretary) (57 Points)
Replied 31 March 2011

Dear Jaideep,

If your company is not meeting the criteria of NBFC, then auditor;s certificate can be submitted that the company financial assets are less than 50% of its total assets and the financial income is less than 50% of the gross income, alongwith the application to RBI for its deregistration.

In that case, RBI ask the company to deregister it from NBFC category.

Best regards

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Jaideep (Service) (1368 Points)
Replied 31 March 2011

Thanks Komal, whether RBI has specified any format for such application.

Regards

Jaideep Pandya

Komal Gupta (Company Secretary) (57 Points)
Replied 31 March 2011

No as such there is no format. But if you will write to RBI Central Office a simple application, you will surely receive any reply in which they may ask for additional formalities.

Or you may visit RBI regional office on Tuesday or Friday, public dealing days in DNBS betwwn 1:000pm to 3:00pm.

Hope this will help you.