In India, NBFCs or Non-Banking Financial Companies does not depend on Current Account Savings Account (CASA) to raise the money because the CASA deposits are only for banks. Whereas the Reserve Bank of India (RBI) provides licenses to the banks to accept the funds from the public which means all the Non-Banking Financial Companies have to look for an alternative source of money supply, and these are higher than the traditional deposits taken by banks. The rate of interest is in between 4% to 6%. In this blog, we discuss the methods use by Non-Banking Financial companies to raise money in India.
What is the business model of NBFCs in India?

Non-Banking Financial Companies raise funds are high, whereas the banks raise the money supply at a very low rate, and these financial companies end up raising funds at a higher rate of interest. As a result, they are causing the obstacle rate on their funds to increase proportionally to maintain Net Interest Margin between 1 to 3% which causes Non-Banking Financial Companies to take an alternative method for distribution of funds to create a higher return.
Effectiveness of Fund Raising

Following are two main objectives of raising funds are:

• Monitoring the mismatch between liabilities and assets.
• Minimizing the mismatch.

In the case of assets the investment made in the NBFC’s operations as a financing organization whereas in case of liabilities, the amounts owed to parties that have supplied the money for the financing activities. The rate of interest charged between both leads to an arbitrage, thus resulting in NIM (Net Interest Margin). The arbitrage is the value resulting from the experience and knowledge of the official of Non-Banking Financial Companies to identify correct segments for investment at a higher ratio of risk-reward and create extraordinary returns in the corporate context.
What are the different KPIs in assessing Liability/Asset in an NBFC?

The departments of the treasury and rupee resources depend on the following factors:

• Liquidity Risk: This risk is for an investment which cannot be sold or marketed easily to a third party for minimizing the losses.
• Interest Rate Risk: It means the risk in the interest rate at the time of raising the money, which affects the Net Interest Margin badly and erodes the net worth value of the NBFC.
• Foreign Exchange Risk: It is the risk of suffering losses in advance exchange movements such as demonetization, especially during an open position either forward or spot or a combination.
• Equity Price Risk: It is a risk that occurs on account of private or public equity shared held in the portfolio, for the equity investment made by the Non-Banking Financial Companies. These financial companies managed and controlled their activities based on different risks involved rather than on the particular type of financial instrument allocated with. Some IT systems measure these types of risks along with var (Value at Risk), and a change is made to the investment when required.

What are the sources of funds for NBFCs?

​Following are the different sources of funds for any Non-Banking Financial Companies:

• Long-Term: Bonds are utilized as a traditional route to bring a reduction in the interest rate on the roots of funds. The coupon rate on the bond is chosen to reflect the rating profile of the NBFC and a return better than the G-Secs. In a few cases, tax-free bonds are also circulated for priority sectors like roads and infrastructure. The maturity profile of these bonds accords with the interest/repayment schedules of the investments made by the NBFCs (Also presented as assets on the balance sheet). Bonds can be allotted to retail investors, which is a chief advantage for NBFCs at the time of bond placement.
• Short-Term: A Non-Banking Financial Company offers short-term loans can be issued by raising funds through Commercial Papers. These appear short-term unsecured notes which are issued by companies with three to twelve months of tenure. NBFCs with a net worth of Rs. 100 crores are eligible to list commercial paper as per RBI (Reserve Bank of India).
• Issue Bonds: Non-Banking Financial Companies can avail the money at the lower costs by issuing bonds and its very common practice which helps to reduce the interest rate on the sources of funds. Bonds can be issued to the retail investors, which is a huge benefit for Non-Banking Financial Companies during the placement of bond.
• Securitization of loans: Non-Banking Financial Companies raised Rs. 2.36 lakh crores in between the period of Oct 2018 and Sep 2019 by selling their loans in the market through securitization. Non-Banking Financial Companies depend on securitization as an effective tool to manage liquidity, raise funds, etc.

Services offered by NBFCs in FDI
Following are some services which are offered by the Non-Banking Financial Companies that have access to the automatic route in FDI:

• Merchant Banking
• Asset Management
• Factoring
• Underwriting
• Portfolio Management Services
• Stock Broking
• Venture Capital
• Custodian Services
• Leasing & Finance
• Housing Finance
• Credit Card Business
• Financial Consultancy
• Micro and Rural Credit
• Non-fund based activities
• Investment Advisory Services
• Forex Broking
• Credit Rating
• Money Changing Activities

The Government of India has announced new FDI norms for Non-Banking Financial Companies to quicken the non-banking financial sector. It eliminates the minimum capitalization norms. The quick increase of FDI (Foreign Direct Investment) will be highly useful for the Non-Banking Financial Company business model due to easier and faster sanctions of funds at some affordable rate of interest.
Conclusion
​Most of the NBFCs don't rely on Current Account Savings Account deposits to raise resources as CASA deposits are for banks only. This means Non-Banking Financial Companies have to consider alternate sources of the money supply. These primary sources of funds are essential for NBFCs. In case if you have any legal-related queries, then feel free to contact Enterslice. Our professional experts are readily available to solve your questions.

 Do you want to start a finance/loan business in India? Then you are at right stage because Nidhi Company is the most easy and affordable way to start loan business in India. It only requires 7 person with easy documents required to start the Nidhi Company. The minimum capital requirement for Nidhi Company registration is Rs.5 lakh.

Nidhi Company can only do business of accepting deposit and lending money to its members only. It cannot deal with the public directly and can only work with its members. However, one can easily make members under Nidhi Company with few documents and easy process. Also, Nidhi Company registration in India is the only form of company available to start the loan company in India without RBI approval.

Nidhi Company can open three branches after three years of working within the district. Further, to open any branch outside the district, the company shall require RD approval. Furthermore, the Nidhi Company cannot work outside the state. Hence, if you want to expand your business to another state, then you will need to register another Nidhi Company.

​Nidhi Company Registration process is the simple but will require a professional to complete the same. Further, the procedure has been changed completely by the government to promote ease of doing business. However, instead, government ends up making the process a little complexed. However, Hubco.in is specialized in Nidhi Company Registration with a experience of more than 200 Nidhi Company registration and managing hundreds of Nidhi Company across India. Know all 6 steps in Nidhi Company Registration.

​A Full Fledged Money Changer (FFMC) is an authorized entity who may purchase foreign exchange from non-residents and residents of India and sell the same for private and business travel purposes only to the people visiting abroad. As Section 10 of the Foreign Exchange Management Act, 1999 prescribes, authorized money changers are the only entities in the country that can deal in money changing activities and offer necessary foreign exchange services. For the purpose of removing the obstacles faced by foreign visitors and tourists, particular firms and hotels have also been offered the registration to deal in foreign currency notes, coins and traveller’s cheques under the directions issued by the RBI frequently.

No individual is permitted to carry on or advertise that they carry on money changing business unless they own a valid FFMC License from RBI. Any individual found undertaking any sort of money changing business without a valid license is liable to be penalised under the Act.

The following are the types of license that are required by an entity to operate as a Full Fledged Money Changer (FFMC).

• Authorised Dealer Category-I Banks (AD Category–I Banks)
• Authorised Dealers Category-II (ADs Category–II)
• Full Fledged Money Changers (FFMCs)

The application form for the FFMC license should be downloaded from the website of RBI. Alongside the essential supporting documents, the application form should be submitted towards the Foreign Exchange Department of the Reserve Bank of India at the regional center under the domain of which the registered office of the candidate falls.

​You just have to visit our website Enterslice and fill your basic details like name, Email Id & Mobile No – Click on Get Started button.

As per the norms of the Securities and Exchange Board of India or SEBI an underwriter is a risk assessing entity that works for someone in exchange of some fee. The risk assessment party or UNDERWRITERS as they have been called assumes and evaluates the risk involved in the planning and functioning of the other party. The fee may be charged as premium, interest, commission or spread. They do this business in the fields like insurance industry, mortgage industry, debt securities, equity market and trading, as well as banking industry.

The underwriters are often termed as risk experts and help institutes to avoid financial loses in long term investments. To function as an underwriter in the market the desiring applicant need to procure license or registration under the SEBI. Underwriters Registration with SEBI needs to be done under the guide lines set by  Securities and Exchange Board of India (Underwriters) Regulations laid in1993.

1. The applicant has to fill out Form A.  The application has 2 major parts, namely: Part-I on General/Personal Information and Part-II on Business Information.

The Part-I of application will collect information on the applicant as mentioned below:

• General Information-Information of Applicant
• Details of Organisation Structure
• Details of Infrastructure Facilities
• Business Plans for three years
• Financial Information

The Part-II of application will collect information on the Business as mentioned below:

• Nature of Underwriting
• Experience details

2. If the board feels that information is incomplete and need further information from the applicant, then the applicant or principal officer to appear before the board. This gives the opportunity to the applicant to provide more information under Regulation 3, where Form-A can be used.
3. Application to conform to the requirements

​If the application is not complete in any aspect or is not according to the instructions given in the form, then the form will be summarily rejected. Prior to rejection, the applicant will be provided one month of time to remove any objection that could have been indicated by the board. Applicants will also be provided with an additional one month to meet the requirements of the board.

Any entrepreneur who wants to start a business in the food sector, be it food processing or food manufacturing, packaging or distributing, has to register for Food Safety and Standard Authority of India FSSAI.
FSSAI monitors these businesses under the guidelines and regulations listed in FSSAI Act 2006.
With expert assistance from Enterslice, get ​Online FSSAI license in the quickest possible way in only 4 simple steps -

• Guidance on selecting the food license types
• Verification of your FSSAI registration documents
• Filing your online FSSAI application
• Procurement of FSSAI food licence

Food Business Operators
Obtaining FSSAI food license is mandatory for every Food Business Operator. Whether a Food Business Operator requires a License or registration depends upon the factors like the capacity of production/ handling etc., nature of food business activities and area of operation.

Importers of Food
Every person who is an importer of food has to apply for a central license at their address which has been registered with DGFT while obtaining Import Export Code.

Central Food Licence
In case a Food Business Operator has operations in more than two states, it has to obtain one additional central License for the Head Office/ Registered Office and a separate license for each location

STEP 1 – CONSULTING, DOCUMENTATION & FILING

• You fill in our online application. Our experts are at your call to help with any query.
• Our experts do a consultation on the type of license needed
• We then collect the documents through email.
• We double check the paperwork.
• Form A and Form B are generated for the actual license process.
• We file it with the concerned authorities.

STEP 2 – FOLLOW UP AND WAITING FOR APPROVAL

• After the CS or CA has filed the application, we resolve any questions that the authorities may ask.
• We facilitate the follow-up required by the food department.
• Then there will be a 20-day wait period during which the government considers your application.

STEP 3 – DELIVERY OF LICENSE

• Once approved, a digital and paper copy of the license is sent to you on the given address.
  
• The procurement of the license takes a maximum of 30 days.
  
• The waiting period mentioned here is for basic license. For the other two licenses, the government approval can take a maximum of 50 days.

• Declaration form
• Copy of Rent agreement (If rented property)
• Copy of Aadhaar Card/ Voter identity card of Proprietor/ Partners/ Director
• Food Safety Management System plan or certificate
• Authority letter
• Copy of Property paper (If owned property)
• Electricity/ Water bill (Business Place)
• Form IX: Nomination of Persons by a Company along with the Board Resolution

Established under the ESI Act, 1948, ESIC (Employees’ State Insurance Corporation) provides benefits to employees in the event of their sickness, death, disablement, injury, etc. The finance of this scheme comes from contributions from both employees and employers.  Apart from employees, the family members of employees are also provided benefits under this Act. Any establishment that employs 10 or more employees is mandated by law for ESI Registration under this Act. The contribution of employers in this scheme is 4.75% and that of employees is 1.75%, thus making a total of 6.5%.

Online Esi Registration is mandatory for every factory and specified establishments who have 10 or more permanent employees and wages of such employees are less than Rs. 21,000/- per month.

​The scheme provides full medical cover to the employee registered under the ESI Act, 1948 during the period of his incapacity, restoration of his health and working capacity.
It provides financial assistance to compensate for the loss of his/ her wages during the period of his absenteeism due to sickness, maternity and employment injury. This scheme provides medical claim to his/her family members also.

​Yes, it is the statutory responsibility of the employer under Section 2A of the Act read with Regulation 10-B, to register their Factory/ Establishment under the ESI Act within 15 days from the date of its applicability to them.

ESI Registration provides monetary and medical benefits to employees in case of sickness, maternity and employment injury and to make provisions for related matters.

Some of the benefits of ESI Registration are :

• Sickness benefits at the rate of 70% (in the form of salary), in case of any certified illness certified and which lasts for a maximum of 91 days in any year
• Medical Benefits to an employee and his family members
• Maternity Benefit to the women who are pregnant (paid leaves)
• If the death of the employee happens while on work – 90% of the salary is given to his dependents every month after the death of the employee
• Same as above in case of disability of the employee
• Funeral expenses
• Old age care medical expenses

​FSSAI stands for Food Safety and Standards Authority of India which is an organization that monitors and governs the food business in India. It ensures the food products undergo quality checks thereby curtailing the food adulteration and sale of sub-standard products. It is responsible for the registering and licensing of the food business operators (FBO) in India and it lays down the rules and regulation for running the food business in India.

​Every food business operator involved in the manufacturing, processing, storage distribution and sale of food products must compulsorily obtain FSSAI Registration or License. FSSAI Registration is different from FSSAI License in the sense that depending on the size and nature of the business, FBO should obtain the necessary registration or license. It is a 14-digit registration or a license number which is printed on all the food packages. This registration procedure is aimed to create more accountability on the FBO to maintain the quality of the food products. ​It is important to go through the documents required for FSSAI registration before applying for the registration or license.

​The Food Business Operators are required to submit different types of documents to get their FSSAI Registration or FSSAI license. The Food Business Operators with the small-sized businesses that have an annual turnover up to Rs. 12 lakh are eligible for the FSSAI Registration. Small, medium or large-sized Food Business Operators with the annual turnover exceeding Rs. 12 lakh has to apply for the FSSAI license. Some of the common documents required for both the FSSAI Registration and the FSSAI license are listed below.

• Passport-sized photographs of the applicant
• Proof of possession of any premises other the address mentioned in the ID proof
• Declaration form
• The photograph of the production unit
• The blueprint or the layout plan of the processing unit, which shows the operation wise area location and the dimensions in the meters or square meters. This is mandatory for the manufacturing and processing units only.
• A list of the address and the contact details of the directors or business partners and the photo ID proofs of them issued by a government authority
• The list of the equipment and the machinery along with their names, number, installation capacity and the working capacity in horsepower
• The chemical and the bacteriological analysis report of the water, which is to be used as one of the food ingredients from a recognized organization for the confirmation
• The certificate of the Food Safety Management System plan
• The copy of the certificate which is obtained under the Coop Act, 1861 or the Multi-State Coop Act, 2002 in the case of co-operatives
• The partnership deed or the self-declaration for the proprietorship or the memorandum and the articles of the association towards the constitution of the business organization
• The board resolution of the company along with the nomination of the persons.

A private limited company is an organisation that has a minimum of two shareholders, and a maximum of two hundred, with a minimum of two directors. A private limited company with one shareholder can invite friends or family members to join the organisation as the second shareholder. In addition, a private limited company also has limited liability; where a shareholder’s liability extends to the amount invested by him/her in the shares of the company.

1. Separate Legal Entity: An entity means something which has a real existence; a thing with distinct existence. A company is a legal entity and a juristic person established under the Act. A juristic person is a person who is not a natural person or human being. Therefore a company form of organization has wide legal capacity and can own property and also incur debts. The members (Shareholders/Directors) of a company have no liability to the creditors of a company for such debts. Hence, a pvt ltd company is a legal entity separate from that of its members.
2. Uninterrupted existence: A company has ‘perpetual succession’, that is continued or uninterrupted existence until it is legally dissolved. A company, being a separate legal person, is unaffected by the death or other departure of any member but continues to be in existence irrespective of the changes in membership. Perpetual succession is one of the most important characteristics of a company.
3. Limited Liability: Limited Liability means the status of being legally responsible only to a limited amount for debts of a company. Unlike proprietorships and partnerships, in a limited liability company the liability of the members in respect of the company’s debts is limited. In other words, the liability of the members of a company is limited only to the extent of the face value of shares taken up by them. Therefore, where a company is limited by shares, the liability of the members on a winding-up is limited to the amount unpaid on their shares.
4. Free & Easy transferability of shares: Shares of a company limited by shares are transferable by a shareholder t any other person. The transfer is easy as compared to the transfer of interest in business run as a proprietary concern or a partnership. Filing and signing a share transfer form and handing over the buyer of the shares along with share certificate can easily transfer shares.
5. Owning Property: A company being a juristic person, can acquire, own, enjoy and alienate, property in its own name. No shareholder can make any claim upon the property of the company so long as the company is a going concern. The shareholders are not the owners of the company’s property. The company itself is the true owner.
6. Capacity to sue and be sued: To sue means to institute legal proceedings against or to bring a suit in a court of law. Just as one person can bring a legal action in his/her own name against another in that person’s name, a company being an independent legal entity can sue and also be sued in its own name.
7. Dual Relationship: In the company form of organisation it is possible for a company to make a valid and effective contract with any of tis members. It is also possible for a person to be in control of a company and at the same time be in its employment. Thus, a person can at the same time be a shareholder, creditor, director and also an employee of the company.
8. Borrowing Capacity: A company enjoys better avenues for borrowing of funds. It can issue debentures, secured as well as unsecured and can also accept deposits from the public, etc. Even banking and financial institutions prefer to render large financial assistance to a company rather than partnership firms or proprietary concerns.

Our Recommendation: Private Limited Company Incorporation Procedure

• Minimum 2 members required and Maximum 200 members
• Minimum Paid-up capital required is Rs 1 lakh
• Minimum 2 directors required and a maximum of 15 directors
• DSC (Digital Signature Certificate) is required
• DIN (Director Identification Number) is required in favour of the one main director

These documents pertain to proof of;

1. Identity: For proof of identity, respective shareholders will have to submit copies of their PAN cards and passports (especially for NRIs or foreign nationals) at the time of registration.
2. Address: For proof of address, respective shareholders are required to submit government-issued IDs, such as a driving license, voter’s id or a passport.
3. Residence: For residence proof, respective shareholders are required to submit the latest bank statements, electricity/gas/telephone bills.

Additional documents
Apart from documents that verify identity, there are;

1. Passport-size photographs
2. Specimen signature on a blank document (for company directors)
3. Memorandum of association that explains all the basic information about the company to register it.
4. Articles of associations that explains that rules, responsibilities, and objective of the company
5. Registration fee and stamp duty, to finally register with the State Government (where the company is located) as an operational and fully functional business entity.The certificate of incorporation is issued from the respective State Government. The certificate of incorporation is used to apply for company PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number).

Also, read: ​9 Reasons to Form a Private Limited Company

In India, the Section 8 Company Registration is regulated by the Indian Companies Act, 2013 (and the amendments thereof) and the rules & regulations that are made thereunder and it  is administered by the Ministry of Corporate Affairs, Government of India through the Offices of Registrar of Companies (‘RoC’) in each of the  state of India. The Company Incorporation rules, the requirements, process, and the procedures vary more or less depending particularly on the type of the company that is to be incorporated.

Section 8 Company is a Company that is  licensed under Section 8 of the Companies Act, 2013 (the Act), erstwhile known as the  Section 25 Company under the Companies Act, 1956, which had the main object; For promoting research, social welfare, religion, charity, commerce, art, science, sports, education, and the protection of the  environment or any such other object, provided that  the profits, if any, or the other income is applied for promoting only the objects of the company and Also, No dividend is paid to its members.

Therefore, Section 8 Company is a company which is registered for charitable or not-for-profit purposes. This  Company is, however, similar to a Trust or Society; an exception is that a Section 8 Company is registered under the Central Government’s “Ministry of Corporate Affairs (MCA)”whereas the Societies and Trusts are registered under the State Government regulations. This, however, has various advantages when it is compared to Trust or Society and it also has higher credibility amongst the donors, Government departments, and other stakeholders.

Documents Required for Directors (Indian Nationals)
The following documents are required for Indian nationals to incorporate a Section 8 company:

• PAN Card – PAN Card, as is commonly known, is a unique identification number issued by the Income Tax Department. Directors of Indian nationality are required to submit their PAN during the incorporation process.
• Proof of Address – The proof of address to be submitted by a Director must include his/her name as mentioned in the PAN Card. This document could be in the form of a Passport, Election Card/Voter Identity Card, Ration Card, Driving License, Electricity Bill, Telephone Bill and Aadhar Card.
• Residential Proof – While an address proof forms a part of most documentary essentials, incorporating a company requires residential proof to validate the address of the Director. Like an address proof, the residential proof must include the name of the Director as mentioned in the PAN Card. This document could be in the form of a bank statement, electricity bill, telephone bill and mobile bill.

Documents Required for Directors (Foreign Nationals)
Foreign nationals are required to produce the following documents for incorporating a company in India:

• Passport – As it obvious as it may seem, a passport is the most essential of all documents to be maintained by a foreign national. For the purpose of this provision, a passport must be Notarized or Apostilled in the country it was issued. If the document is in a foreign language, it must be translated into English by an official translator.
• Address Proof – As in the above case, a foreign national’s address proof must be notarized or apostilled. The proof so submitted must include the name of the Director as mentioned in the Passport. This document could be in the form of a driving license, residential card, bank statement, and other government-issued documents with the address.

Note – if the passport doesn’t contain the birth of the holder, an additional document indicating the date of birth of the director must be provided, duly certified, attested, notarized or apostilled.

• Registered Office Proof
• Documents for Shareholders
• Memorandum and Articles of Association
• Application - An application for a license must be made to the Registrar in Form INC 12 by remitting a fee of Rs. 2000.
• SPICE 32 Form

​Nidhi Company is governed by Section 406 of the Companies Act, 2013 and Company Nidhi Rules, 2014 which has a sole objective of cultivating the habit of thrift and savings amongst its members. Nidhi companies are allowed to take deposit from its members and lend to its members only. Therefore, the funds contributed for a Nidhi company are only from its members (shareholders) and used only among the shareholders of the Nidhi Company.

Nidhi Company is a class of NBFCs and RBI is empowered to issue directions to them in matters relating to their deposit acceptance activities. However, in recognition of the fact that these Nidhis deal with their shareholder-members only, RBI has exempted the notified Nidhis from the core provisions of the RBI Act and other directions applicable to NBFCs. Therefore, Nidhi Company is an ideal entity to take deposit from and lend to a specific group of people.

These companies work toward the sole purpose of encouraging people to save and be a help to each other as a part of mutual benefit.

• Operations for a Nidhi Company is easy. Arranging funds or borrowing capital gets easier as its sole purpose is to serve other people and people who put in money also get something in return as part of lender’s interest. Ownership can also be transferred easily.
• A certain degree of relaxation in the compliances is enjoyed by the company.
• Low Rates of Interest can be enjoyed if you borrow money which makes it attractive and it is also a platform for secured investments.
• R.B.I intervenes the least in such kind of business.

​Every Nidhi must, within a period of one year from the commencement meet all of the following criteria:

• It must have minimum 200 members,
• It must also ensure that net owned funds are Rs. 10,00,000/- or more,
• (‘Net owned funds’ mean the aggregate of paid up equity share capital and free reserved as reduced by the accumulated and intangible assets appearing in the last audited balance sheet),
• It must also ensure that the ratio of net owned funds to deposit is not more than 1:20.
• It must have unencumbered term deposits of not less than 10% of the outstanding deposits.

If the Nidhi Company satisfies above conditions, The Company shall within 90 days from the close of first financial year after incorporation, file NDH-1 duly certified by a Practicing CA/CS/CWA along with the prescribed fees.

• Copy of PAN of Directors and Shareholders.
• Copy of ID Proof of Directors and Shareholders. (Voter ID, AADHAR, Driving License, Passport)
• Copy of Address Proof of Directors and Shareholders (Bank Statement/ Electricity bill/ Mobile bill/ Telephone Bill)
• Passport size Photographs.
• Property Ownership Documents of Registered office premises:
• If property is owned: Electricity bill + Ownership Documents + NOC (if required)

If property is rented: Electricity bill + Rent Agreement + NOC
Apart from all these documents, Some other required documents will be prepared by your Corporate Professional i.e. CA/CS for submission to ROC.

Usually Nidhi Company Registration Process takes up to 45 days,  Registration of a Nidhi Company consists the following steps:

1. Minimum 7 Members and 3 Directors will be required to start the Incorporation of Nidhi Limited.
2. Apply for DIN and DSC.
3. After getting the DIN and DSC, file an application in INC-1 to MCA for reservation of name of Nidhi Company.
4. Once the name is approved, Prepare Memorandum of association and Articles of Association according to Nidhi objects and all other required documents carefully.
5. Apply for Incorporation.
6. Get Incorporation Certificate.
7. Apply for PAN and TAN

The Ministry of Corporate Affairs (MCA) has issued an integrated incorporation form INC-32. So now, an Company can be incorporated online by filling the Simplified Proforma for Incorporating Company Electronically (SPICe) form in Form INC-32 (using Digital Signature Certificate of the Director)along with (eMoA) in Form INC-33 and (eAoA) in Form INC-34.