Once the forms are submitted with the ROC, they will examine the application and then remove the name of the director from the master data of the companies.
The entities need to follow the by-laws mentioned and if they are not complied with they attract penalties for the infringement of the provisions such as : The license owner that has committed a breach of the license will be liable to pay the penalty as may be prescribed by the MCD officers If the applicant doesn't renew his license within the time prescribed he is levied a 50% of the fee as a penalty.
Below are some of the additional business proofs that are to be submitted along with identity and address proof in case the applicant is a part of any company.
In the MSME segment, the Net Interest Margin (NIM) ranges from 4% to 7% and depends on the risk associated with the applicant and type of loan being applied.
Features of GST loan Scheme Applicable for all small and medium-sized enterprises (MSME) Collateral free loan that is entirely online The rate of interest relevant to this loan facility is 8% Can be availed in 60 minutes through GSTIN There is no need to pay any registration fees or any convenience charges as well.