Net owned fund of nbfc

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 January 2014 Can you please tell us how the company have to organize or bring in their initial minimum capital requirement (net owned fund) of Rs. 2 crore for NBFC registration.

Whether the company promoter have to bring in the initial capital from their own fund or from the overall capital from the shareholders of the company. If suppose there are two promoter for the private company then do they have to bring in 1 crore each for the NBFC registration?

can you please explain me on the above matters?

AVTAR SINGH

AVTAR SINGH (Expert)
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13 January 2014 The funds contributed by any shareholder will be part of NOF of the company. It doesn't make difference whether the funds have been contributed by the promoters, their relatives or other shareholders.

Querist : Anonymous

Querist : Anonymous (Querist)

13 January 2014 Thank you Mr. Avtar Singh for the explanation.... How the newly formed company (not existing) can convert it into NBFC business.... On what criteria RBI give the certificate of registration for non deposit taking NBFC?

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Querist : Anonymous

Querist : Anonymous (Querist)

20 January 2014 Can you please give me some idea on how much costs does a firm usually charges for drafting a Business plan of NBFC and what are the break down of cost ( cost incurred in preparation of business plan like consultants fees, project plan development fees can etc). Urgent