Procedure to buy or sale NBFC company?

Formalities that must be complied with are:

- Public notice should be given atleast 30 days prior to effecting the sale or transfer;

- In two newspapers one English and local vernacular language, - Jointly by NBFC, transferor and transferee,

- Within seven days of publication of such notifications, intimation to the Reserve Bank of India. 

For Deposit Accepting NBFCs:

- Prior approval of RBI

- Obligations towards deposit holders are to be met.

There are certain advantages too of acquiring an existing NBFC. For example those NBFCs which were registered before 1999 needed an initial capital of Rs.25 lakhs only whereas the stipulated equity now is Rs.2 crore.

 Ozg NBFC Experts  | Website:  |  Email:
 Ozg Law ~ Ozg Law ~ Ozg Law ~ Ozg Law ~ Ozg Law ~ Ozg Law ~ Ozg Law ~ Ozg Law