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Non-Banking Financial Company

1. NBFC REGISTRATION

Non-banking financial companies (NBFCs) are a vital part of the Indian financial service system. In India, the term "non-banking financial companies" acquires a new meaning, and a huge significance. NBFCs are both non-deposit and deposit taking. However, such deposits are term deposits and not call deposits. Such entities are not banks, and yet carry lending activities almost at par with banks.

NBFC registration is obtained as per the provisions of the Companies Act, 2013 and the RBI Act, 1934. It is a Company registered under the Companies Act engaged in the business(es) of providing financial services including loans & advances, Investments, leasing, hire purchase etc.

How may Chronicle help you:

Incorporation of NBFCs and Obtaining CoR from RBI. (From forming a Company to making application and taking approval for Registration as NBFCs.)
Forming and Setting-up of the Business Plan.
Business Strategic Advisory including planning based on Market Trends.
Advisory based on Products to be offered.
Legal Consultancy/Advisory.
RBI Compliance & Secretarial Services.
Drafting of Documentation & Annual Compliance.
Obtaining various Certificates & Licenses prescribed under RBI Guidelines (Like:- FIU-IND, NeSL, CERSAI, C-KYC etc.

Article-NBFC Registration

2. NBFC MERGER AND ACQUISITION (TAKEOVER)

Mergers and acquisitions (M&A) in the finance sector are controlled and regulated by the Reserve Bank of India (RBI). With newer business models in this fast-changing competitive environment, there have been many changes in the operations, management, and regulations of NBFCs. As mergers and acquisitions are happening around the world throughout the corporate sector, the NBFCs have also come under the impact of these arrangements.

The RBI has over a period of time laid down the law by the virtue of which the establishment, functions and investments in non-banking finance companies (NBFCs) are managed in the country.

The takeover of NBFC means the purchase of one NBFC by other company. Only the registered NBFC’s under the act can acquire another NBFC.

How may Chronicle help you:

Application to RBI for Acquisition and Change in Control pursuant to Non-Banking Financial Companies (Approval of Acquisition or Transfer of Control) Directions, 2015.
Drafting of Documentation as required under RBI Guidelines.
Forming and Setting-up of the Business Plan;
ROC Compliances and Annual Compliances;
Drafting of Memorandum of Understanding.
Forming and Drafting of Share Purchase Agreement.
Due Diligence of Target Company.
Regular & Legal advisory;
Regular Follow-Ups from Department of Non-Banking Supervision.

Article NBFC Takeover