Regitration of company
GIRISH SULE
(Querist) 07 September 2010
This query is : Resolved
A trust is registerd ubder Bombay P.T.Act,in Maharashtra .
Its objects are 1. Enterpruner development and to give financial aid to poor . 2. It receives foreign donation . 3. It is registered under FERCAct . It has 7 trustees Presently it has about 5000 clients to whome it has given loan .
Query : This trust now wants get converted in to banking company so that it can receive investment , donation etc . What will be the procedure ? How the present clients will be dealt with ?. What about registration under FERAct? Are there restrictons .Please advice .
Girish .
Uma parameswaran
(Expert) 07 September 2010
You can enquire with the registrar which you already having registration .If they have no objection you can proceed for Banking Company registration.