Requirement for obtaining prior approval of RBI in cases of acquisition/ transfer of control of Non-Banking Financial Companies (NBFCs)

As per the RBI Notification DNBS (PD) CC.No.376/03.10.001/2013-14 and Notification No. DNBS(PD) 275/GM(AM)-2014 dated May 26, 2014

Prior approval of RBI is to be taken when there is change in management/ control of NBFC.

After granting prior approval of NBFC, Company has to publish notice in at least one leading national and in one leading local (covering the place of registered office) vernacular newspaper.(format attached herewith) as per as per para 5 of Notification No.  DNBS.(PD) 029/CGM(CDS-2015) dated July 09, 2015 and original public notice to be submitted to RBI with in 07 days of its publication.

If any objection recieved from public in regard with public notice published with in 30 days, that is required to be furnished to RBI immediently.

If no objection  is received from public in regard with proposed change in management, then after the expiry of 30 days from the date of publication then company can file its necessary documentation and furthermore, company has to comply with all the regulations issued by bank to NBFC.

The format of public notice is annexed below:-


Regd. Off.: _________________

CIN: ___________ Email: _____________


In compliance with the Para 5 of Notification No. DNBR. (PD) 029/CGM (CDS)-2015 issued by Reserve Bank of India on July 09, 2015. Notice is hereby given that the shareholders of ___________ Private Limited, a company incorporated under the companies Act, 1956/2013 and Registered with Reserve Bank of India vide Certificate Number _____ as a Non Deposit taking Non-Banking Finance Company, with its Registered office situated at _______________________ is intended to transfer the ownership and control of the company through the sale of shares to 1. ________S/o Mr. ____ 2. _______ S/o ________ 3. _________ S/o __________.

The new directors to be appointed are ____________and ________, the resigning directors are _______and __________, all by occupation, Business will take ownership and control of ___________________. Therefore, for the transfer is to scale up, expand and diversify the business activity.

The above Notice is being given pursuant to RBI Circular DNBR, (PD) CC, No.065/03.10.001/2015-16 dated July, 09,2015 and other relevant Regulations. The company has already obtained the prior approval for change of Management from RBI, Delhi vide letter No. _______________.

Any clarification / Objection in this regard may be addressed to Department of Non-Banking Supervision, Reserve Bank of India, 6, Sansad Marg, Delhi 110001 within 30 days from the date of publication of this notice stating therein the nature of interest and grounds of objection. This public Notice is being issued jointly by the Company and the above-mentioned Acquirers.



(Name of Exisiting Director), (Place)

On behalf of Proposed transferee


(Name of proposed Transferee)

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Author Bio

Qualification: CS
Company: Harshna Sharma & Associates
Location: New Delhi, New Delhi, IN
Member Since: 26 Jun 2020 | Total Posts: 2
Harshna Sharma, (M.COM, ACS), PRACTICING COMPANY SECRETARY FROM DELHI. She is an Associate Member of The Institute of Company Secretaries of India. She is Independently practicing as a Company Secretary since December 2019 having exposure of Listing, Secretarial and Corporate Compliances. View Full Profile

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