FFMC License (Full Fledged Money Changer License)

   

FFMC License (Full Fledged Money Changer License)

Further documents required obtaining License for FFMC from RBI

Brief procedure involved in obtaining License for FFMC from RBI

1.      Authorised and Paid up share capital should be minimum INR 30 Lakhs

2.      If Authorised and paid up share capital is not as per details mentioned in Point No. 1 and Increase the Authorised Share Capital of the Company to INR 30 Lakhs.

3.      Increasing the Paid-up Share Capital of the Company to INR 30 Lakhs

4.      Preparing Balance Sheet from Auditor

5.      Getting Certificate from Auditor that Company have sufficient net owned funds

6.      Preparation of note on future plans of the company and give it to RBI in the form of declaration

7.      Apply to RBI for obtaining license to RBI in prescribed form

Documents Required:

1.      Certificate of Incorporation, Memorandum and Articles of Association of the Company.

2.      Signed Balance sheet, Profit and loss Account as on not later than 7 days before the date of application

3.      Certificate from auditor about sufficient net worth

4.      Declaration from directors of the company that no proceedings are pending against company or directors

5.      Declaration from directors about the future plans of the company

6.      List of Promoters and Directors

7.      Shop Act License of the Company

8.      Pan Card Copy and Address Proof for each directors and company.

The process for obtaining License from RBI takes about 60-90 days from making

application to RBI. 

For any queries please visit at www.csladda.com or write mail to us at info@csladda.com 

However, shall you have any questions please feel free to call or mail us, we would be more than happy to address your doubts or queries if any.

Thanks & with warm regards !

For, CS Pramodkumar R. Ladda 

Company Secretary

Land line No. 020-24570055

Cell No. 9922735476 / 9595271145
OFFICE: 2nd Floor, OM  Apartment, SR. No. 496/B, Near KCC Classes,

Opp Kasba Peth Post office, Kasba Peth, Pune  411011

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Formation of Multistate Co operative Society

Multi state cooperative societies are of several types-

􀂾 Multi State Solar Cooperative Society

􀂾 Farming Cooperative Society

􀂾 Credit Cooperative Society

􀂾 Agriculture Cooperative Society.

􀂾 Real Estate Cooperative Society

􀂾 Dairy Firm Cooperative Society

􀂾 Transport Cooperative Society and many more.

CS Ladda & Associates www.csladda.com  has a team of well qualified professionals who understand your needs

and will prepare your bye laws as per your requirements and specific objectives of your multi

state cooperative society.

Brief procedure involved in incorporation of Multistate Co operative Society

Preliminary requirements:

REQUIREMENTS FOR FORMATION OF NEW MULTI STATE COOP SOCIETY.

1.            Proof of Address of Fifty One members from each state.

2.            Open a Bank account and deposit Share money plus admission fee collected from                           members.

3.            Two Rubber stamp i.e One Seal and second of Chief Promoter.

4.            Rent Agreement if available.

5.            List of members duly signed by members.

6.            Name and address of Chief Promoter.

7.            Name of Board of Directors.

8.            Each documents signed by Chief Promoter.

9.            NOC from concerned state Cooperative Registrar.

NOTE: Other formalities, requirements, documentation and informations will be prepared by us.

1. Information of 50 members from each state with 2 states minimum. Kindly see enclosure

Form 1 and fill up their details.

Form 1 You can take its separate printouts but please keep the sets of different states separate.

You can keep more number of states as well but each additional state require a minimum of 50

members from that state.

2. Names of all the members with their signatures. Kindly see enclosed the Form 2 You can

take its separate printouts.Please do not write the serial number in this.

3. Proposed name of your multi state cooperative society.

4. Your area of operation : Mention the names of the states where you want to work.

Please Note- For the Form1 and Form2 Form, everything can be computer written except the

signatures. The addresses of the members should be complete and meaningful because

incomplete address results in rejection

Promoters / Applicants shall require the following for incorporation:

1. Passport size photograph of member

2. Self attested Address proof

3. Self Attested Pan Card

4. Education Proof

All the members must be more than 18 years of age.

You require to provide the details of minimum 50 members with their signatures and their

information as mentioned. Minimum requirement is at least 50 members from each state

with 2 states.

Form further details kindly contact at www.csladda.com  or write at info@csladda.com

Certificate of Commencment of business

As new Companies Act,2013 has come in force, I would like to discuss some of the major changes which have major impact on corporate workings and corporate should be aware and take necessary action at the earliest and make policy with respect to Certificate of Commencement of Business by Company.

As per Section 11 of Companies Act, 2013 every Company having share capital shall not commence any business or exercise any borrowing powers unless a declaration is required to be filed in Form INC-21 within 180 days of the date of incorporation of company.

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