Hello members ,, Registration of a NBFC public , can anyone plz provide a checklist for the same .. Main point i want to know in this regard;
1. Within what time limit after getting COI , the company need apply for Certificate of Commencement ?
2. Within what time limit the company need apply to RBI for registration ?
Thanx !
neeta
The certificate of commencement of business has to be obtained within six months of incorporation.
As regards, the NBFC registration, the company has to apply before starting the business as an NBFC.
| Originally posted by : Rasesh | ||
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The certificate of commencement of business has to be obtained within six months of incorporation. As regards, the NBFC registration, the company has to apply before starting the business as an NBFC. |
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Dear Rasesh,
Can u provide the reference of section of the Companies Act under which it is required to obtain Certificate to Commence Business within 6months of Incorporation??
Thanks
Pursuant to section 45-IA of RBI Act, 1934
NBFC have to make an 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 Net Owned Fund (NOF).
NOF requirement for NBFC registered:
Before 21/04/1999 = Rs.25 Lakhs
After 21/04/1999 = Rs.200 Lakhs
CAclubindia
