Only those registered with NBFC under the Companies Act are eligible to acquire control of another NBFC.

They are financial intermediaries as they act as mediators between depositors and borrowers.

  NBFCs are companies registered under the Companies Act of 1956 or 2013.

Moreover, the documents can be uploaded at any time, so there is no requirement to assign a person and make an appointment to send the files and hand them over to the auditor.

  The NBFC was established under the Companies Act 2013 and still acts similar to the banks; the difference is that NBFC can actively deposit lending money but cannot issue cheques.

Primarily there are three approaches for the business valuation: Market-Based Approach: Under a market-based approach, it is necessary to identify a firm under the same industry with whom the concerned company is compared based on the suitable multiples: The earnings of the company post-tax deduction are multiplied to calculate an estimation of the value of equity.

In layman’s language, any non-banking institution which is a duly registered company under the relevant act has its principal business similar to that of a bank.

Particulars of food products to be dealt with Food Safety Management System Plan For State License: Details (with name, ID, complete address, and contact) for: Directors or  Partners or Proprietor or Members of Society or  Trust Authorised Signatory List of: Machinery/equipment (their registration number, working capacity, and power usage) Food to be manufactured Certificate by Cooperatives (Coop – 1861/Multi-State Coop Act – 2002) Declaration/Undertaking by Food operators Form B (attested by the Proprietor/Partner/Authorized member) Authority letter by the manufacturer nominating the person (along with details of the alternative person) Self-Declaration (for Proprietorships) Copy of License from manufacturer NOC from manufacturer NOC from Municipality or local body Food Safety Management System Plan Form IX: Details of persons nominated by the Company and copy of Board Resolution Analysis report of water portability to be used in food.

All companies must make certain disclosures to them in the Application Form issued by the company soliciting deposits.

Loan Company: A company involved in providing finance by lending loans or advances for any activity other than its own.