Requirements to be complied with and documents to be submitted to RBI by NBFCs for obtaining certificate and Registration from RBI
An indicative list of documents/information to be furnished along with the application. All documents/information is to be submitted in duplicate.
1. | Minimum NOF requirement Rs. 200 lakh. |
2. | Application to be submitted in two separate sets tied up properly in two separate files. |
3. | Annex II to be submitted duly signed by the director/Authorized signatory and certified by the statutory auditors. |
4. | Annex III (directors’ profile) to be separately filled up for each director. Care should be taken to give details of bankers in respect of firms/companies/entities in which directors have substantial interest. |
5. | In case the directors are associated or have substantial interest in other companies, indicate clearly the activity of the companies (whether NBFC or not). |
6. | Board Resolution specifically approving the submission of the application and its contents and authorising signatory. |
7. | Board Resolution to the effect that the company has not accepted any public deposit, in the past (specify period)/does not hold any public deposit as on the date and will not accept the same in future without the prior approval of Reserve Bank of India in writing. |
8. | Board resolution stating that the company is not carrying on any NBFC activity/stopped NBFC activity and will not carry on/commence the same before getting registration from RBI. |
9. | Auditors Certificate certifying that the company is/does not accept/is not holding Public Deposit. |
10. | Auditors Certificate certifying that the company is not carrying on any NBFC activity. |
11. | Net owned fund as on date. |
12. | Certifying compliance with section 45S of Chapter IIIC of the RBI Act, 1934 in which director/s of the company has substantial interest. |
13. | Details of changes in the Memorandum and Articles of Association duly certified. |
14. | Last three years Audited balance sheet along with directors & auditors report. |
15. | Details of clauses in the memorandum relating to financial business. |
16. | Details of change in the management of the company during last financial year till date if any and reasons thereof. |
17. | Details of acquisitions, mergers of other companies if any together with supporting documents. |
18. | Details of group companies/associate concerns/subsidiaries/holding companies. |
19. | Details of infusion of capital if any during last financial year together with the copy of return of allotment filed with Registrar of Companies. |
20. | Details of the bank balances/bank accounts/complete postal address of the branch/bank, loan/credit facilities etc. availed. |
21. | Business plan for next three years indicating market segment to be covered without any element of public deposits. |
22. | Cash flow statement, asset/income pattern statement for next three years. |
23. | Brief background note on the activities of the company during the last three years and the reasons for applying for NBFC registration. |
24. | II(b) is the company engaged in any capital market activity? If so, whether there has been any non-compliance with SEBI Regulations? (Statement to be certified by Auditors). |
25. | Whether any prohibitory order was issued in the past to the company or any other NBFC/RNBC with which the directors/promoters etc. were associated? If yes, details there of. |
26. | Whether the company or any of its directors was/is involved in any criminal case, including under section 138(1) of the Negotiable Instruments Act? If yes, details thereof. |
27. | Whether the company was granted any permission by ECD to function as Full-fledged Money Changers? |
28. | Whether the company was/is authorised by ECD to accept deposits from NRIs. |
29. | Whether “Fit and Proper” Norms for Directors have been fulfilled. |
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Email: license.consultant @ozg.co.in
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To book an appointment, please visit to: ozgcenter.com or email to: appointment@ozgcenter.com
