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G.K.Kedia & Co.

NBFC FORMATION


An Indicative List of documents/information furnished along with the application (Registration with RBI to carry on the business of NBFC)


Under Section-45IA


Sr. No Documents submitted to RBI by Companies for obtaining certificate and Registration from RBI as NBFC
1 Minimum NOF requirement Rs. 200 lakh.
2 Application for Registration with Reserve Bank of India under section-45-IA of the RBI Act, 1934
3 Identification particulars (Annex I).
4 Statement on prudential norms (Annex II).
5 Information about the management (Annex III)
6 Details of change in the management of the company during last financial year till date if any and reasons thereof.
7 Certified copies of Certificate of Incorporation and Certificate of Commencement of Business in case of public limited companies.
8 Certified copies of up-to-date Memorandum and Articles of Association of the company.
9 Details of clauses in the memorandum relating to financial business.
10 Details of changes in the Memorandum and Articles of Association duly certified.
11 Copy of PAN/CIN allotted to the company.
12 Annex II duly signed by the director/Authorized signatory and certified by the statutory auditors.
13 Annex III (directors' profile) with details of bankers in respect of firms/companies/entities in which directors have substantial interest.
14 In case the directors are associated with or without substantial interest in other companies
15 Certificate from the respective NBFC/s where the Directors have gained NBFC experience.
16 Copy of PAN and DIN allotted to the Directors.
17 CIBIL Data pertaining to Directors of the company
18 Financial Statements of the last 2 years of Unincorporated Bodies, if any, in the group where the directors may be holding directorship with/without substantial interest.
19 Certificate of compliance with section 45S of Chapter IIIC of the RBI Act, 1934 regarding unincorporated bodies with which director/s of the company are associated.
20 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.
21 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.
22 Board Resolution specifically approving the submission of the application and its contents and authorizing signatory.
23 Board Resolution to the effect that the company has not accepted any public deposit, in the past 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.
24 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.
25 Certified copy of Board resolution for formulation of "Fair Practices Code"
26 Statutory Auditors Certificate certifying that the company is/does not accept/is not holding Public Deposit.
27 Statutory Auditors Certificate certifying that the company is not carrying on any NBFC activity.
28 Statutory Auditors Certificate certifying net owned fund as on date of the application.
29 Details of Authorised Share Capital and latest shareholding pattern of the company including the percentages. Documentary evidence for change in shareholding pattern, if undergone.
30 Copy of Fixed Deposit receipt & bankers certificate of no lien indicating balances in support of NOF.
31 Details of infusion of capital if any during last financial year together with the copy of return of allotment filed with Registrar of Companies.
32 Details of the bank balances/bank accounts/complete postal address of the branch/bank, loan/credit facilities etc. availed.
33 Details of unsecured loans if any, raised by the company from others (including the directors) during the year and if these fall in the exempted category of Public deposits certified by the Auditor.
34 A certificate of Chartered Accountant regarding details of group/associate/subsidiary/holding/related companies.
35 Brief background note on the activities of the company during the last three years and the reasons for applying for NBFC registration.
36 Whether the company has applied to RBI in the past for registration, if rejected, give full details.
37 Last three years Audited balance sheet and Profit & Loss account along with directors & auditors report or for such shorter period as are available (for companies already in existence).
38 Business plan of the company for the next three years details of its (a) thrust of business; (b) market segment; and (c) projected balance sheets, Cash flow statement, asset/income pattern statement without any element of public deposits.
39 Source of the startup capital of the company substantiated with documentary evidence.
40 Details of mergers and acquisition with/of other companies, if any.
41 Is the company engaged in any capital market activity? If so, whether there has been any non-compliance with SEBI Regulations?
42 The company was granted any permission by FED to function as Full-fledged Money Changers. If so, copy of the RBI letter granting the permission.
43 If there is FDI in the company, its percentage (submit FIRC in support thereof) and whether it fulfills the minimum capitalization norms or not (also submit FC_GPRs).
44 Declaration by the company to own electronic infrastructure and its capability regarding electronic submission of data through the internet as and when required by Reserve Bank of India. Email id of the company should also be provided.
45 There are any incidents of non-compliance with the directions of Revenue Authorities or any other statutory authority by the applicant company, its holding company/ subsidiaries.


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