NBFC Formation and Takeover

Trove Capital specializes in Formation and Takeover of NBFCs and has successfully undertaken and executed 100+ transactions over the last decade.

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On new NBFC registration, you will have to incorporate a new company with minimum authorised capital of Rs.2.50 Cr and minimum paid up capital (approx 2.20 Cr) enough to cover the preliminary expenses and maintain a Net Owned Fund (NoF) of Rs.2.00 Cr. (The company will have to maintain a minimum NoF of Rs.2.00 Cr, in form of FDR at the time of making an application with Reserve Bank of India (RBI) and maintain the same throughout the process)

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How do we help you?

Our scope will be to assist in preparation of documents, filing with RBI (both online and offline) addressing and replying to each and every query raised by RBI during the course of registration.

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Business plan and Auditors Certificates, wherever applicable will be required to be provided by you (will assist with relevant inputs and forms)

1. Before proceeding with the application, following important information / documents will be required, in addition to others:-

2. Application form with Annexure III for all the proposed Directors. CIBIL of all proposed Directors should be around 800.

3. Satisfactory Banker’s Report (Credit Information Report) for each Director and from the entities, where such director holds more than 10% ownership (including Companies, LLPs, Firms and Proprietorships).  

4. Financial Statements & ITR of each Shareholder and Director (if applicable) for last 3 years.

5. FDR of minimum Rs.2.00 Cr with Bank along with letter from Bank stating there is no lien / charge / OD on the amount kept as Fixed Deposit.

6. Educational Certificates and Relevant Experience documents for each Director.

7. Source of Capital with documentary evidence of all the beneficiary shareholders (any additional documents except as mentioned in point no.3 herein above).

8. KYC documents such as PAN, Aadhaar, Passport, CIBIL, DIN Allotment letter for each of the proposed Directors.

9. Formal business plan, highlighting projection plan for next 3 years along with target sector for lending and all other relevant additional details.

10. Registered email id in the format  companyname@companyname.com

11. Details about organisational Structure, risk management system, IT infrastructure to be given (There are additional conditions to be met, in case there is Mobile APP based applications)

12. Company Name in Hindi (Devanagari) script

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The above points are indicative as per RBI-NBFC norms for new formation. Apart from above, additional information / documents will have to be filled, based on facts and circumstances of each case.

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We will guide you through the process thoroughly covering all the points to the best of our knowledge and ability within the legal framework, but do not guarantee registration.

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We got them NBFC

Following are the few Organisations, assisted by us to obtain Type I / Type II NBFC-ND CoR from RBI (during last 12 months).

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• Mitron Capital Private Limited – Mumbai

• Pittie Finvest Private Limited – Mumbai

• Quadrillion Finance Private Limited (Brand: Slicepay) – Bangalore

• Sarvasva Capital Finance Private Limited – New Delhi

• Vastu Finserve India Private Limited- Mumbai

• Indiumplus Financial Services - Mumbai

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Our recent notable Takeover (2015-17) includes IIFL Wealth, Wheels EMI (Pune), Loan Tap (Pune), Cashe (Aries Group), Gromor Finance, Rent Alpha etc.