Save Rs 499. Go Ad-Free with CAclubindia Pro for 2 Full Years. Subscribe Now!

Requirement of registration as nbfc

504 views 4 replies

RAJEEV

CA Articleship

97 Points Posted on 12 February 2016

Dear Sir,

I am running a business of lending my own funds to public for interest.

My questions are:

1. In what form can I run it? (sole proprietor/Partnership/Private Limited Company)

2. Do I need to get NBFC approval compulsorily?

3.What are the other registrations need to be done by me?

Thanks in advance.

Replies (4)

CS Divesh Goyal

Practicing Compnay Secretary

53860 Points Posted on 13 February 2016

i will advise you to go for registration as NBFC.

RAJEEV

CA Articleship

97 Points Posted on 15 February 2016

Sir,

I have heard that there will be a minimum networth of Rs.2crore for obtaining RBI approval. Is it right?

Can I do my business without obtaining RBI approval as I was not accepting any deposits?

RAJEEV

CA Articleship

97 Points Posted on 15 February 2016

Sir,

I would like to know whether we can do as sole proprietor or partnership or not as there will be more compliance requirements if registered as a PVT.LTD. and going for RBI approval.

Thanks for giving your opinion primarily.

RAJEEV

CA Articleship

97 Points Posted on 15 February 2016

Sir,

I would like to know whether we can do as sole proprietor or partnership or not as there will be more compliance requirements if registered as a PVT.LTD. and going for RBI approval.

Thanks for giving your opinion primarily.