A Non Banking Financial Company (NBFC) is a company registered under the Companies Act, 2013. It is engaged in the business of loans and advances, acquisition of shares, stock, bonds, hire-purchase. NBFC are regulated by RBI and RBI permission is must to start NBFC business. As per the RBI guidelines, the net owned funds of the NBFC should be Rs. 2 Crores. An NBFC cannot indulge Primarily in Agricultural, Industrial Activity, Sale-Purchase, Construction of Immovable Property. Foreign Investment is allowed up to 100 %.
The liability of the members of the Company is limited. The Directors or Shareholders are not personally liable for the debts of the Company. For example, when Company is in default of repayment of debt or loan, there is a protection to the personal assets of the Directors or Shareholders.
Non Banking Financial Companies (NBFC) mobilize resources thereby converts savings in to investments, capital formations, provides long-term credits or specilized credits and helps in development of financial market. Further, NBFCs often take lead role in providing innovative financial services to Micro, Small, and Medium Enterprises (MSMEs) most suitable to their business requirements. NBFCs do play a critical role in participating in the development of an economy by providing a boost to transportation, employment generation, wealth creation, bank credit in rural segments and to support financially weaker sections of the society. Emergency services like financial assistance and guidance is also provided to the customers in the matters pertaining to insurance. They supplement the role of the banking sector in meeting the increasing financial needs of the corporate sector, delivering credit to the unorganized sector and to small local borrowers.
P2P Lending is nothing but peer to peer lending. It is also known as Social Lending or crowd lending. Peer-to-peer (P2P) lending enables individuals to obtain loans directly from other individuals, setting out the financial institution as the middleman. P2P Companies have greatly increased its adoption as an alternative method of financing. The P2P lending business model is regulated by the Reserve Bank of India and recognized as Non- Banking Financial Company. Currently the business of P2P lending is emerged by Fintech companies in India. P2P lending companies connect borrowers directly to investors through online web portals. The P2P company sets the rates and terms and enables the transactions. P2P Lenders are Individual investors who wish to get a better return on their cash savings than a bank savings account. P2P borrowers seek an alternative to traditional banks or a better rate than banks offer.
The Director of the Company can be the employee of the Company. He can give his own premises on rent/lease to Company and Collect rent from it, he can give loan to the Company and can take loan from Company, he can supply goods or services to the Company and get consideration for that.
The members of the Company may come and may go but Company may not go that means the members are different and the Company is different. Company can own assets on it own name and can sell. It can sue and can be sued in a court of law.
Non Banking Financial Companies (NBFC) can trade securities in Money Market whereas a normal company can not. An NBFC can manage portfolios of stocks and sahres. An NBFC can underwrite shares or stocks.
NBFC company can be registered as both Private or Public Company. To register it as Private, two directors and two shareholders are required and in cas of Public company, three directors and 7 shareholders are required. The shareholder may be a body corporate but the director must be an individual. You can find below the Documents required and Step by Step Company Registration Process.
We will apply Class-III DSCs through eMudhra Portal Online.
We will prepare the eMOA, eAOA, eSpice+ Form, eAGILE+ Form and upload with MCA portal by paying the requisite fee.
After scrutiny, the MCA will approve the form and issues you the Certificate of Incorporation through email.
As an Official Company Registration Agent, we have built strong ties with the Ministry of Corporate Affairs, Govt of India since our own formation. Since we began, our goal has been to provide a seamless incorporation process that is quick and simple to use. Today, our company registration system is one of the most effective and efficient in India. In just over 5 minutes you can submit your new company name application, and often in just 3-5 days, your company will be fully registered. We also keep our company formation pricing competitive, while always exploring innovative ways to provide value to our customers. We are pleased to be one of the most affordable ways to start a company in India.
We have the expertise to advise which is the correct corporate structure they need to put in place. Most customers come to us for help registering a company limited by shares. The limited company structure is popular as it allows profits to be distributed amongst the shareholders while at the same time protecting them through the limited liability aspect. Our team has well over 20-years of combined expertise forming companies and providing corporate and secretarial services that help thousands of our clients grow their businesses each year.
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Our clients have access to free support from an expert team. We are always on standby to help. If you need assistance at any point before, during, and after the registration of your company, you will be able to reach us by telephone or email.
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Congratulations!! on registering your new business venture. Most of the enterprenuers do not know what next once the Company is registered. You can find below the other mandatory registratons and statutory compliance requirements of a Company.
As per 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 obtaining a certificate of registration from the Bank and without having a Net Owned Funds of ₹ Two crore. 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 ie. 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 the Companies Act, 2013, 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.
GST registration is Mandatory if you are a Taxable dealer in sale of Goods or supply of Services. If the company is registered under Section 12AA of the Income Tax Act, 1961 and the services provided by the Company are for charitable cause, then GST is exempted.
If you want to protect your Company, brand, literary work, invention, you need to apply for Trade Mark, Copyright, Patent respectively with the department of Intellectural Properties of India.
Professional Tax is Mandatory for the Companies registered in India. For all states it is not mandatory and infact only for 17 states it is mandatory.
Shops & Establishments registration is mandatory to register with the concerned State Labour Department.
To avail the benefits under The Ministry of Micro, Small & Medium Enterprenuers Act, it is mandatory to get registered under this Act.
The new company has to apply for Local Trade License with the Local Municipality or Municipal Corporation.
If your Company is covered under PF Act, you need to get the PF Registration. Now MCA is giving PF Registration along with Incorporation, you need not required to apply again separately, you need to enrol the employees once the threshold limit crosses.
If your Company is covered under ESI Act, you need to get the ESI Registration. Now MCA is giving ESI Registration along with Incorporation, you need not required to apply again separately, you need to enrol the employees once the threshold limit crosses.
You need to appoint a First Auditor of the Company with in 30 days from the date of Incorpration and file Form ADT-1 with MCA with in 15 days of appointment otherwise a maximum penalty of Rs. 3,900/- will be payable.
You need to declare the deposit of Share Capital amount in Form INC-20A with the MCA with in 180 days of Incorporation, otherwise MCA will strikeoff your Company. Few banks also insists you to file this Form otherwise they will not activate your Company's Current Account.
Every Director who has been allotted DIN on or before the end of the financial year, and whose DIN status is 'Approved', would be mandatorily required to file form DIR-3 KYC before 30th April of the immediately next financial year. Failure to file attracts a penalty of Rs. 5,000/- per Director and his/her DIN will be deactivated by the MCA.
Section-8 Company has to hold a meeting of it's Board of Directors twice in a Year.
Every Company has to hold a meeting of it's members called Annual General Meeting on or before 6 month after closure of it's financial year.
Every Company has to file a report called it's Annual Report in Form AOC-4 with MCA with in 30 days from the date it's AGM.
Every Company has to file it's Annual Return in Form MGT-7 with in 60 days from the date of it's AGM.
Every Company has to file it's Income Tax Return in form ITR-6 on or before 30th September of each year.
Every Company which is subject to file TDS returns has to file it with in Due date to avoid penalty.
Any Company which subject to file GST returns on QRMS basis has to file with in due date to avoid penalties.
DIN stands for Director Identification Number. Every Director of the company will get this unique Director Identification Number subsequent upon the Company Incorporation. With this DIN, he/she can register any number of companies.
A DIN holder has to file his KYC with MCA every year on or before 30th day of September otherwise a penalty of Rs. 5000/- will be imposed.
DSC stands for Digital Signature Certificate. Class-III Digital Signature Certificate is required for each Shareholder while registering his/her company.
There are different companies who issue Class-III DSCs. These companies are called DSC Certifying Authorities. We have associated with eMudhra Tamil Nadu. eMudhra is one of the largest Digital Signature Certifying Authority in India.
An authorized share capital is a share capital amount upto which the shareholders can invest in equity of the company.infact, this the permission limit to invest amount into Equity Sharecapital.
Paid up share capital is an amount, which is deposited by the shareholders of the compnay in company's bank account towards share capital.
A CIN is a company identificaton number, which is generated by the Ministry of Corporate Affairs while generating the Certificate of Incorporation.
We can treat it as the company registration number.
If we apply direct incorporation without applying for Certificate of Name Availability, it may take 3 to 5 working days. Some times, it may be incorporated even in one day.
But it is advisable to apply first company name and then incorporation and in this case it may take 10 to 15 days.
As the minimum share capital requirement is Rs.200 Lakhs and the company incorporation fee is approximately Rs. 350,000/-. However, this fee may be varied from state to state in India.
Yes, you can start a Company from your home address too.
No, you can not register Company on your own as Professionals like Company Secretary/Chartered Accountant has to sign digitally along with a Director on the application forms, then only your Companay will be registered.
Rs. 2 Crore.
Minimum of two directors are required to register the NBFC Company.
Minimum of two members are required to register the NBFC Company.
NBFC cannot accept demand deposits whereas the Bank can. NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself whereas the Bank can do. Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of Banks.
No. Housing Finance Companies, Merchant Banking Companies, Stock Exchanges, Companies engaged in the business of stock-broking/sub-broking, Venture Capital Fund Companies, Nidhi Companies, Insurance companies and Chit Fund Companies are NBFCs but they have been exempted from the requirement of registration under Section 45-IA of the RBI Act, 1934.
Get Certificate, DINs, DSCs, MOA, AOA, PAN, TAN, GST, MSME, IEC, PF, ESI, PT*, Shops & Establishments Registration*, Bank A/c, Share Certificates & GST Software along with your CIN!