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Discussion > Business Law > Others > Money Lending Licence @ Mumbai, Maharashtra   Unanswered Threads Post New Topic

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There are 4 Replies to this message


R S Thakur


.
[ Scorecard : 26]
Posted On 13 April 2011 at 12:12 Report Abuse

Dear Ld.Seniors and friends

I want to start a Pvt Ltd Company for conducting a business of Micro Finance, I wnat to know what is the procedure to obtain a Money Lending Licence and who has the authority to Grant such licence, for Maharashtra and Gujrat.

Q.1 Authority that can grant a Money Lending Licence.?

Q.2 Documents required for the said licence.?

Q.3 Is such licence is valid in multiple states.?

Pls reply as soon as Posible,

Thanking you all in anticipation.



ADVOCATE DEFENSE.


POWER OF DEFENSE IS IMMENSE - firmaction@gmail.com
[ Scorecard : 15818]
Posted On 13 April 2011 at 13:23 Report Abuse

not easy job dear.

in every state fresh registration needed.


R S Thakur


.
[ Scorecard : 26]
Posted On 13 April 2011 at 13:42 Report Abuse

I completely agree to you sir, that it is not an easy job, but sir these days nothing is easy, I want to still try it.:-)


Hemant Agarwal


ha21@rediffmail.com Mumbai : 9820174108
[ Scorecard : 3043]
Posted On 13 April 2011 at 17:38 Report Abuse

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
 


harpreetdhanvi


Legal Officer
[ Scorecard : 117]
Posted On 02 January 2012 at 16:02 Report Abuse

NBF'c is also an option



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