NBFC-Minimum capital requirement

[bhavani prasad]

Dear all

I want to know that whether there is any compulsory requirement for  NBFC to have Rs. 2 Crore as its paid up capital.

--
CS Bhavani Prasad C N
Company Secretary & Compliance officer
Neha International Ltd

[chakri hegde]

Dear Sir,

I do not think so..........

As per the law, 

Minimum Authorized Capital (and not paid-up capital) for a NBFC should be Rs. 2 Crores and 

it cannot commence its business without obtaining the certificate from RBI and its minimum net owned funds should be Rs. 2 Crores.

---------------------
With Best Wishes
Chakri G Hegde
Indo Nissin Foods Ltd
Bangalore

[arvind gupta]

Dear Bhavani,

 

There is no compulsory requirement for  NBFC to have Rs. 2 Crore as its paid up capital.

Please refer the enclsoed file and also the word doc inside it for clarification.

 

Rightly quoted by Mr. Chakri, the minimum net owned fund should be Rs. 2 crores as amended by RBI.

[CS.Omkar]

Dear Ms. Jyoti,

 

Forwarding the discussion on the subject in this forum...

 

Regards...Omkar

--~--~---------~--~----~------------~-------~--~----~
Find eNewsletters of ICSI Mysore at: http://www.icsi.edu/NewsEvents/enewsletters/tabid/1757/Default.aspx  AND www.esnips.com/web/icsimysore

You received this message as you are subscriber. To unsubscribe email to: csmysore-u...@googlegroups.com
-~----------~----~----~----~------~----~------~--~---

[CS A Rengarajan]

If you want RBI registration, then it is mandatory to have net worth of Rs.2 crores.whether it is accepting public deposit or not  I have dealt with the same

Regards

--~--~---------~--~----~------------~-------~--~----~
Find eNewsletters of ICSI Mysore at: http://www.icsi.edu/NewsEvents/enewsletters/tabid/1757/Default.aspx  AND www.esnips.com/web/icsimysore

You received this message as you are subscriber. To unsubscribe email to: csmysore-u...@googlegroups.com
-~----------~----~----~----~------~----~------~--~---

--
csarengarajan
Company Secretary, Chennai
email csaren...@gmail.com
mobile 093810 11200
SHARING KNOWLEDGE SKY IS THE LIMIT

This mail and its attachments (if any) are confidential information intended for persons to whom the email is planned for delivery by the sender. If you have received this mail in error please notify the sender of the error by forwarding the email and its attachments (if any) and then deleting the mail received in error and the relevant email trail in this connection without making any copies or taking any prints.

[bijals...@gmail.com]

Dear Bhavani,

 

can we form NBFC with Authorised Capital of Rs. 2 Crore but not paid up capital?. When we apply for registration as NBFC with RBI that time also can we have paid up capital of less than 2 Crores but net owned funds of Rs.2crore.

Thanks & Regards, 

Bijal 

[R V Seckar]

Hello,

For registering with RBI as NBFC , the NOF should not be less than Rs 2 Crores.

Owned Fund’ means aggregate of the paid-up equity capital , preference shares which are compulsorily convertible into equity, free reserves , balance in share premium account and capital reserves representing surplus arising out of sale proceeds of asset, excluding reserves created by revaluation of asset, after deducting therefrom accumulated balance of loss, deferred revenue expenditure and other intangible assets. 'Net Owned Fund' is the amount as arrived at above, minus the amount of investments of such company in shares of its subsidiaries, companies in the same group and all other NBFCs and the book value of debentures, bonds, outstanding loans and advances including hire purchase and lease finance made to and deposits with subsidiaries and companies in the same group, to the extent it exceeds 10% of the owned fund.

--
--
************************************************
Mail your comments, feedback and suggestions on CSMysore to Moderator: datta...@gmail.com and Manager: vivekhe...@gmail.com
---
You received this message because you are subscribed to the Google Groups "CSMysore" group.
To unsubscribe from this group and stop receiving emails from it, send an email to csmysore+u...@googlegroups.com.
For more options, visit https://groups.google.com/groups/opt_out.

--

R.V.Seckar

Mobile- 09848915177

Pl do visit my blogs :

http://www.rvseckarcompanylaw.blogspot.com/

http://rvseckarfema.blogspot.com/

http://rvseckarindianlaws.blogspot.com

 

http://rvseckarincometaxcaselaws.blogspot.in/

[divyesh vanparia]

Hi,

can you please tell me what compliances needs to be followed annually
after nbfc incorporated?

Regards,

Divyesh Vanparia
Contact no: 8082544970

[Akshit Soni]

Dear Divesh

Please find herewith attached file for the compliance check list Annual, monthly and event base for NBFC Company.

Thanks & Regards,
CS Akshit Soni 
(M)+91 9727264335
E- Mail- cs.axit...@gmail.com

Ahmedabad

[divyesh vanparia]

Dear Akshit,

 

Thanks for reply. Is there is requierd to intimate about any changes in director to RBI?

 

Regards,

Divyesh Vanparia

[Amar Kumar]

Yes as per RBI Master Circular on Prudential Norms following need to be intimated to the RBI:

Information in regard to change of address, directors, auditors, etc. to be
submitted

Regards,

Amar Kumar

Please do not print this email unless absolutely necessary.

Save paper save trees.

Notice: The information contained in this e-mail message and/or attachments to it may contain confidential or privileged information. If you are not the intended recipient, any dissemination, use, review, distribution, printing or copying of the information contained in this e-mail message and/or attachments to it are strictly prohibited. If you have received this communication in error, please notify us by reply e-mail or telephone and immediately and permanently delete the message and any attachments. Thank you