NBFC

[esha sharma]

What is the minimum amount of PUC requirement for formation of an NBFC, Do we need to have Rs. 200 Lacs at the time of filing papers for incorporation or we need that much NOF at the time of registering with RBI.Can we incorpirate a company with 1 Lac PUC and later register it with RBI for NBFC purpose and change the PUC accordingly?

[ankit das]

I think u can incorporate the company with 1 PUC at present and register your company as NBFC with required NOF later on....

 

other members views invited

On Tue, Apr 26, 2011 at 1:03 PM, esha sharma <esha...@gmail.com> wrote:

What is the minimum amount of PUC requirement for formation of an NBFC, Do we need to have Rs. 200 Lacs at the time of filing papers for incorporation or we need that much NOF at the time of registering with RBI.Can we incorpirate a company with 1 Lac PUC and later register it with RBI for NBFC purpose and change the PUC accordingly?

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CS Ankit Das

Mob: +91-9701891816

[esha sharma]

Thanx Ankit for prompt reply but need advice from someone who have practically worked in this matter.

[INDRANI SANKA]

hi

there are 3 kinds of NBFCs as follows could you please specify what kind of NBFC you are planning to start?

 

- asset finance company

- loan company

- investment company

 

Regards,

Indrani

 

 

On Tue, Apr 26, 2011 at 1:03 PM, esha sharma <esha...@gmail.com> wrote:

What is the minimum amount of PUC requirement for formation of an NBFC, Do we need to have Rs. 200 Lacs at the time of filing papers for incorporation or we need that much NOF at the time of registering with RBI.Can we incorpirate a company with 1 Lac PUC and later register it with RBI for NBFC purpose and change the PUC accordingly?

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[esha sharma]

we want to incoporate an NBFC of III category i.e. INVESTMENT company

[pankaj bhardwaj]

Dear Esha,

For incorporating an NBFC we need to have 2 crore/200 lacs authorised capital at the time of incorporation with ROC. Kindly go through the naming rules which clearly mention that an NBFC need to apply with 200 lacs capital at time of availability of name.and further for registering with RBI you need to have 200 lacs net owned fund..

For any further clarification, feel free to contact.

Best Regards
Pankaj Bhadwaj
Company Secretary
Dabur Group
09968324118

[esha sharma]

Thanx for your advice m. Pankaj,
But in our case what we are thinking is that at the time of incorporating the company we will incorporate it with 1 lac capital and later we will convert it into NBFC and will raise the capital accordingly. Can we do so?

[INDRANI SANKA]

Yes it is possible

[esha sharma]

Hey Indrani

Have you ever practically handled this situation?

[INDRANI SANKA]

Not exactly but i work for a NBFC Company

[esha sharma]

ok

[Suresh Kumar Vaishraj]

Hi Ms. Esha,

 

NBFC company can not be incorporated unless the authorised capital is Rs. 2.00 Crore. As suggested by one of the friends, please go through the Name Availability Guidelines and NBFC rules. Further for a new company the Net Owned funds shall mean the paid up capital only (as it will not have reserves). Thus in short the new company should have its authorised capital and paid up capital as well - Rs. 2.00 Crore. Hope this clarifies you.

 

Thanks and Regards,

Suresh Kumar V
Company Secretary
91-9849991201

[esha sharma]

Dear Mr. Suresh

Thanx for your replybut just like to add something here suppose we incorporate a Company with authorise capital of 2 crores and PUC of 1 Lakh and at the time of getting it registered with RBI we will raise  the PUC to 2 crores.Can we do so?

[Suresh Kumar Vaishraj]

Dear Esha,

Having minimum Net Owned Fund of Rs. 2.00 Crore is the requisition under NBFC guidelines and not as per Companies Act, 1956.Thus strictly speaking RoC should allow a NBFC Company to be incorporated with paid up capital of Rs. 1.00 Lakh, provided a declaration is given by the promoters/ directors stating all the statutory requisites of NBFC guidelines & RBI will be fulfilled. However, advice you to enhance the paid up capital to Rs. 2.00 Crore before you move the NBFC application to RBI. Hope this clarifies your query.

Thanks and Regards,

Suresh Kumar V
Company Secretary
91-9849991201

[esha sharma]

Thanx Mr. Suresh

will surely give an explanatory statement here regarding my conclusion on the captioned query.

[kiran np]

Dear All,

Can anyone provide me a draft policy for demand / call loans to be framed by NBFCs as per their guidelines.

regards,

Kiran