1. A registered Pvt. Ltd. company having proper MOA & AOA pertaining to business of borrowing and lending, should be compulsorily be registered with Registrar of Companies.
2. A Pvt. Ltd. company desirous of doing finance business, must mandatorily take Licence (Certificate) from Reserve Bank of India u/s 45 of the RBI Act. This is valid and applicable for whole of India.
3. However, apart from above, a further "money lending licence" is to be obtained from "each & every" State, where money lending business is proposed to be conducted. In Maharashtra, the dept of Cooperatives is entrusted for granting of such "money lending licence" .
4. Mandatory documents like MOA, AOA, Company Incorporation certificate, PAN card, S&E license and others are required to obtain licence & conduct business of finance.
Keep Smiling .... Hemant Agarwal