Very very very urgent????

AUDITOR VINOTHKUMAR (a) (870 Points)
Replied 31 May 2016

help me expert above the querry

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 31 May 2016

https://www.rbi.org.in/Scripts/FAQView.aspx?Id=92

AUDITOR VINOTHKUMAR (a) (870 Points)
Replied 31 May 2016

Is it necessary that every NBFC should be registered with RBI?

In terms of Section 45-IA of the RBI Act, 1934, no Non-banking Financial company can commence or carry on business of a non-banking financial institution without a) obtaining a certificate of registration from the Bank and without having a Net Owned Funds of ₹ 25 lakhs (₹ Two crore since April 1999). However, in terms of the powers given to the Bank, to obviate dual regulation, certain categories of NBFCs which are regulated by other regulators are exempted from the requirement of registration with RBI viz. Venture Capital Fund/Merchant Banking companies/Stock broking companies registered with SEBI, Insurance Company holding a valid Certificate of Registration issued by IRDA, Nidhi companies as notified under Section 620A of the Companies Act, 1956, Chit companies as defined in clause (b) of Section 2 of the Chit Funds Act, 1982,Housing Finance Companies regulated by National Housing Bank, Stock Exchange or a Mutual Benefit company.

AUDITOR VINOTHKUMAR (a) (870 Points)
Replied 31 May 2016

Thanks for reply Mr. US SHARMA SIR:

You post link I Searched exempt from RBI Registration, but i applied name (sarvamitra finance private limited) below the querry:-

(This is to inform you that in terms of Rule 10 of the Companies (Registration Offices and Fees) Rules, 2014, the
above-cited Form INC-1 dated 27/05/2016 filed by vide SRN G04190872 has been examined and marked as Sent for
resubmission

The Proposed name includes /indicated finance activity but para 14a is not selected as Yes and about approval of
regulator information is not filled up. Accordingly please resubmit after selecting yes in the para 14 a of the
form INC-1. For using the word "Finance" is restricted in Rule 8(6)(n) of the Companies (Incorporation) Rules, 2014
read with Section 4 of the Companies Act, 2013, for which prior approval of the regulatory authority is also
required, )

Sachin (Professional) (80 Points)
Replied 31 May 2016

if the object of the company is NBFC ,MFI then u have to select para 14a but if its not

Sachin (Professional) (80 Points)
Replied 31 May 2016

but if its not providing NBFC activity then u may attached deceleration with stamp paper duly notarised notaries that the proposed company is not provide the any Financing services as like NBFC

AUDITOR VINOTHKUMAR (a) (870 Points)
Replied 02 June 2016

DEAR SIR, THANKS FOR REPLY,

I ALSO ATTACHED FOR NON ACCEPTING DEPOSIT STAMP PAPER WITH NOTARISED

Sachin (Professional) (80 Points)
Replied 02 June 2016

Hi...
even if its rejected then u have to go for approval of respective authority.
because Rule 8 (6) clearly says

Sachin (Professional) (80 Points)
Replied 02 June 2016

for using word Finance u need prior approval of concert authority.

AUDITOR VINOTHKUMAR (a) (870 Points)
Replied 02 June 2016

HI... Sir, My client traders to loan & indvidual loan, mortgage loan he would like select for name sarava capital private limited and sarava credit union private limited

(before applied name sarava finance private limted but resubmission for rbi approved)

Sachin (Professional) (80 Points)
Replied 02 June 2016

Hi....

If the object is Loan, Mortgage then u must have to take prior approval of RBI.
and as above two names the second name will never be approved due to word Union its prohibited.

AUDITOR VINOTHKUMAR (a) (870 Points)
Replied 03 June 2016

ok thanks you, My doubt now for how to pre incorporation approved by RBI (finance biz.)

neha (CS) (30 Points)
Replied 20 November 2017

what if the Company is not registered with any Financial regulator but the name contain finance or credit & Capital in its name and ROC need approval from financial regulator.

In my case i am applying forn name change and the form has come under resubmission that Existing name include the word CREDIT & CAPITAL indicates NBFC activity, which require prior approval from regulator for change of name.

I have submitted declaration on stamp paper that the Company is not registered with any regulator. what else can be done.

How to get NOC from financial regulator when we are not registered with them.

Vishakha Jain (2 Points)
Replied 05 May 2018

Sir

I want to incorporate a company with the word investments. But the name is rejected saying that NOC from SEBI is required to conduct the activities related to mutual funds, investments, brokers etc. Kindly advice whether we will have to get registered as an investment adviser with SEBI or something else has to be done?