In a recent development, the RBI issued new guidelines for External Commercial Borrowings (ECB)...
Every Company has a principal place of business known as the registered office. A registered office is the official address of a company to which all official letters and reminders are sending by any person, any government or non-government or regulatory body. The company is required to have the registered office address in India from the date of commencement of business or within fifteen days from the date of incorporation whichever is earlier.
Generally, a Company chooses the place as a registered office where most of the stakeholders reside for their convenience. However such registered office needs to be shifted to another place for better management of the company.
There are four ways of shifting the Registered Office of NBFC:
Shifting of the registered office to a place in the same city, town or village.
Shifting of the registered office to a place outside the local limit of the existing place but within the same state under the jurisdiction of the same Registrar of Company.
Shifting of RO to a place from the jurisdiction of one registrar to that of another registrar within the same state.
Shifting of registered office from one state to another state.
The procedure for a change in the registered office of NBFC is almost alike to a normal private or public limited company except the requirement of NOC from Reserve Bank of India for such change.
After the approval of shareholders, the next step is to file e-form MGT-14 for amendment or change in Memorandum of Association of the Company within the 30 days from the passing a special resolution.
The form shall be filed within 30 days of passing special resolution along with the required attachment to ROC.
An application shall be prepared and file with ROC in GNL 1. An application shall be accompanied with the required attachments.
The E form INC 23 shall be filed with Regional Director supported by the above application and required annexure and acknowledgment of GNL1 filed.
The Company shall advertise Form No.INC.26 in a vernacular newspaper in which the registered office of the company is situated and one in an English newspaper at least 14 days before the date of hearing given by Regional Director.
The applicant shall file E form INC 22 with ROC along with the required documents. The INC 22, in case of shifting, is one ROC to another ROC, the form shall be filed with both ROC.
The applicant shall file Regional Director Approval with Registrar of Company in E form INC 28.
On approval of ROC on the change in registered office, the Company shall surrender the original Certificate of Registrations as issued by the concerned Reserve Bank of India to the same department of Non-Banking supervision. The RBI shall issue the new certificate of Registration as Non-Banking Finance Company with the updated registered office address.
So, concluding with the significance of the registered office of every company. The Company shall take into consideration all the aspects of shifting of registered office and also comply with the provisions after the shifting of registered office.
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