Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Urgent !! NBFC Incorporation Procedure ?????

CourseCart.in (Mentor at SHAYVIDZ Academy) (3756 Points)

18 March 2010

Dear All Members...!

I want to know the Procedure (Practical one & not the theoritical) to Incorporate an NBFC..

Also let me know all da applicable acts, rules & regulations, Legal formalities and Liabilities of directors & shareholders and other important points to be noted...

Thanks

SHAYVIDZ @ gmail.com

AADICA @ gmail.com

ADARSH @ agrimatrix.in

Reply
Follow
Share

10 Replies

Rasesh (CS CWA MBA (Fin) B.Com LL.B (Spl)) (6501 Points)
Replied 19 March 2010

You don't incorporate a NBFC, you get the company registered as a nbfc.

Really sorry, I manage ready made NBFC's in my group. Have never had the opportunity of registering one. However, the files attached may be of some help to you.

Attached File : 8 requirements docs for registering as nbfc.pdf downloaded: 4337 times

2 Like

Upgrade to CAclubindia Pro. Subscribe Now!

Rasesh (CS CWA MBA (Fin) B.Com LL.B (Spl)) (6501 Points)
Replied 19 March 2010

Also check this file.

Attached File : 21 application format for registring as nbfc.pdf downloaded: 2565 times

2 Like

CourseCart.in (Mentor at SHAYVIDZ Academy) (3756 Points)
Replied 21 March 2010

Originally posted by : Rasesh
	You don't incorporate a NBFC, you get the company registered as a nbfc.

Dear Rasesh !

Thanks alot for gving file SPECIMEN APPLICATION FORM FOR REGISTRATION WITH RBI...

Some of files i got from other sources too... I am sharing those files here too..

may be useful for u too....

I need knowledge about NBFC on practical front for handling clients of NBFC Companies..

thanks..

Attached File : 40 nbfc.zip downloaded: 2065 times

madhavi (hgas) (33 Points)
Replied 02 September 2010

Thanks a lot for all the knowledge and inputs shares

Madhavi

Nitin Bohra (Director) (22 Points)
Replied 20 January 2011

ARE YOU LOOKING TO BUY OR SELL NBFC ? CALL US NOW ON 9769285262 OR VISIT WWW.BINDUKSHINI.COM FOR DETAILS. BEST DEALS GUARANTEED. FULLY TRANSPARENT AND CLEAR DEALS.

Upgrade to CAclubindia Pro. Subscribe Now!

CA Rajesh Pabari (Chartered Accountant - Advisory & Audit) (247 Points)
Replied 22 July 2011

Can contact BRV & Associates, Chartered Accountants, Mumbai for registering NBFC and getting expert advises. The practical aspects of registration are lot many. List of Documents required is very long. it needs organised efforts with professional skills.

CA Dilip Yadav (Practice) (21 Points)
Replied 21 November 2012

can newly established company will get registered in NBFC? Bcoz there r requirements of existing records like last 3 years audited Balance sheet, etc. Plz help

CA MOHAN LAL KUMAWAT (Practising CA In Jaipur) (305 Points)
Replied 03 December 2014

Can NBFC lend on an unsecured basis?

CA MOHAN LAL KUMAWAT (Practising CA In Jaipur) (305 Points)
Replied 03 December 2014

plz help me Can NBFC lend on an unsecured basis? Can a NBFC lend to individuals for short term? Can a company borrow from NBFC (since the companies cannot now borrow from anyone other than a corporate, so is this ok with them) Is there any restriction on lending to a particular group or person as a % Can a NBFC start a Micro Finance Business or do we require a separate NBFC for same Can a NBFC act as a non fund based fund arranger also? Do banks lend/refinance to NBFC on their advances? What are the various compliances required, their periodicity and the formats Can a NBFC raise funds by way of Preference Share Capital Redeemable share capital Debentures Or even the above are considered as deposits Is there any restriction on the above for rate of Interest? Can we pay 12% on the above (preference share capital) Can the NBFC create a charge in ROC on the funds lent to the company/corporate Can a LLP be a NBFC? Are there any prudential norms, or capital adequacy norms applicable to NBFC What are the limits and guidelines for FDI in NBFC? Automatic route and otherwise How much ring fencing is required by Directors/promoters from their other businesses Is there any norms for constituting Board of a NBFC Can the NBFC raise ECB (External Commercial Borrowings) or loans overseas? Do you know any consultant who is an expert in NBFC work Can a NBFC also lend to housing and get refinance from Nabard? or it should be a separate Housing Finance Company to do so? We are looking for the SME sector for NBFC and for funding/lending specifically to businesses and not individuals Is there any restrictions on the rates of interest charged for advances and paid for deposits? Can the NBFC do Bill Discounting or LC discounting? Can a NBFC be a Credit Information Company (CIC act) or is a separate company required for same? What are restrictions on related party transactions for a NBFC? What are the checks to be done in case we are buying an existing NBFC