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RBI APPROVAL

namrata (company secretary ) (422 Points)

28 October 2010

Dear Freinds,

Can Anyone tel me is Rbi Approval necessary for change in name of Nbfc ,if yes then what is the procedure or format for seeking their approval?

Regards

Namrata

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6 Replies

sunil prakash jain (Sr.manager) (101 Points)
Replied 29 October 2010

Yes,it is necessary for any NBFC to take prior approval from RBI for change of name.

After obtaining name (form 1A) from ROC, write a letter to regional office of RBI stating that Company subject to the approval of RBI and memebrs of the Company intent to change the name of the Company from --------------- to----------------. Mention reason for change of name.

Once you received letter from RBI for no objection for the proposed change do procedure as per the Co.Act and attach NOC of RBI with F-23 & 1B

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HARDIK (COMPANY SECRETARY NCFM (Corporate Governance )) (664 Points)
Replied 29 October 2010

Yes RBI prior approval is necessary for change of name of NBFC.

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HARDIK (COMPANY SECRETARY NCFM (Corporate Governance )) (664 Points)
Replied 29 October 2010

Kindly refer RBI circular dated 13/01/2000.

Vidhya (111 Points)
Replied 29 October 2010

NBFC intending to change its present name would need to obtain prior permission of RBI before approaching the Registrar of Companies for change of name. Any violation of these directions would attract serious action against the company as provided for under the RBI Act including cancellation of the Certificate of Registration if already granted, or rejection of its application for registration, as the case may be.