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Uttar Pradesh - Register for Micro Finance Company

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ProcedureEdit

  • A person or an association of people proposed to be registered as a “Micro Finance Company” has as its objects the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity and protection of environment or any such other object.
  • Thereby intends to apply its profits, if any or other income in promoting its objects and intends to prohibit the payment of any dividend to its members.
  • Micro Finance companies can be a Trust, NGO, Society or Company which operates based on not-for-profit motto.


Apply In-Person:

  1. Applicant shall approach their Charted Accountants to apply for DSC (Digital Signature certificate) and DIN (Directors Identification Number). This is the first step towards initiating the Micro Finance Company (section 8 companies) registration.
  2. Once the DSC and DIN are obtained, please find a suitable company name and make sure to check for the name availability.
  3. Applicant shall use the following link to check for the company name availability: link please follow the screen prompt as appropriate and hit “Search” button to check for company name availability.
  4. Please make sure to select names that end with the words like “Sanstha”, “foundation”, “Association”, “Federation”, “Chambers” etc. You can also use “Micro Credit” in the Company Name. Applicant has to check with different name combination, in case of the provided name is already registered.
  5. It is advisable to generate five different names for easy processing.
  6. Once the company name is fixed, please save the reference number for name approval and then consult your Charted Accountant to draft “Memorandum of Association (MOA)” and “Articles of Association (AOA)”.
  7. Once the above-mentioned steps are complete, applicant is ready with DSC, DIN, Company name, MOA and AOA to register.
  8. Please complete the application form for registration.
  9. Link for application form: link
  10. Applicant shall complete the application form on their own or take the help of Charted Accountant. Attach the entire required document as per our “Required Documents” section.
  11. Please scan the required documents and keep it ready to apply online.


To register online, please follow the below steps.
Apply Online:

  1. To register a firm, visit the official website: Official website
  2. In the given page please click “Sign In” option provided on the top right corner to get login page.
  3. In the “User Login” page, please use the login credentials as appropriate and click “Sign In” button to log in.
    • If you are a new user then use the “Register Now!” option to get “New User Registration” form page. Please complete the page prompts as appropriate and click “Create My Account” button to register and then login.
  4. Once log in please use the “MCA Services” menu and select “SPICe+” option under “Company Services” session to reach dashboard page.
  5. Here please select “New Application” option button to reach “SPICEe+ Part A” page.
  6. Applicant shall select “Section 8 Company” option from the drop-down list against “Type of Company” and please process other page prompt as appropriate. Upload required document at prompted space and click “Auto Check” button to see whether details are entered correctly.
  7. Now please click “Save” button to get a message that “SPICe+ Part A” is saved successfully. Here please click “Submit” button.
  8. Applicant will get a new page. Here, if the name allocation is not done previously, then use the “Submit for Name Reservation” button to get name allotted and then proceed.
  9. Otherwise, please click ”Proceed for Incorporation” button to get “SPICe+ Part B” page. Please complete the page prompts as appropriate and then click “Save & Continue” button at the bottom.
  10. Applicant will be prompted to provide “Subscriber and Directors Details”. Please enter the appropriate details and click “Save & Proceed” button no reach another page.
  11. Applicant should select “Add/Edit” option provided under “d. Particulars of Individual….” option to get respective page for adding details. Once details are added / entered please use the “Continue” button to come back to the online applying page. Similarly, applicant should use the other “Add/Edit” button to complete the page requirements and click “Continue” button to come back to the online applying page.
  12. Now please fill the details for “Stamp Duty” page prompts and click “Save & Continue” button to reach “PAN/TAN Information” page.
  13. Please fill the prompted details as applicable and click “Save & Continue” button to reach “Attachments” page.
  14. In the attachments page, please use the “Choose File” button against the respective document and follow the onscreen information to upload the desired document as per the system requirement.
  15. Once uploading of the required files is complete, please use the “Save & Proceed” button.
  16. Applicant will reach “AGILE-PRO” page. Please enter/select the prompted details and click “Save & Next” button to get another set of prompts for “AGILE-PRO”.
  17. Please complete the page prompt as appropriate and click “Save & Next” button.
  18. Applicant shall continue to add the details for directors as per prompt and click “Save & Next” button to reach attachments page for “AGILE-PRO”.
  19. Please use the “Choose File” button against respective attachment requirement and upload the file.
  20. Once files are attached, please use the “Save & Next” button to reach “Declaration” page.
  21. Applicant shall click the checkbox by reaching the declarations and enter the prompted details as appropriate and click “Prescrutiny” button to get “Prescrutiny Successful” message. Now click “Submit” button.
  22. Applicant will get information alert pop up. Please click “Okay” button.
  23. Applicant shall go to the dashboard page. Now the under “File” applicants SPICe+ Part A, SPICe+ Part B, AGILE-PRO, SPICe+ AOA, SPICe+ MOA and INC-9 documents will be listed. Please use the button provided under “Download” to download the document to your local hard disk.
  24. Open these files and add digital signature to it as appropriate.
  25. Once digital signature is added, please use the “MCA Services” menu and select “Upload eforms” option under “e-filing” session to reach another page.
  26. Here select “Normal Forms” option and use the “Browse” button to select the digital signature added documents one by one.
  27. Once all the required documents are added, please click “Upload” button to upload these files.
  28. Once the upload is successful, applicant will reach “Fee For Services” page with an information alert pop up showing a computer generated SRN number as acknowledgement. Please save it for future reference. The same will be sent to your mobile phone and email ID.
  29. Close the pop-up and scroll down to go through the payment details and click “Pay Fee Now” button at the bottom to reach the payment page.
  30. Please select your applicable payment mode and click “Submit” button to reach another page with information. Please go through the details and click “I Accept” button.
  31. Applicant will reach respective online payment gateway page to make the online payment for this procedure.
  32. Once the payment is made, please save the receipt for future reference.
  33. This submitted application will be processed internally.
  34. Notification about the progress or requirement of additional details will be sent to applicant through SMS or email.
  35. All verification and checking of provided details are satisfactory, then this application will be granted with registration of firm.
  36. Applicant will get the company incorporation certificate from the MCA as per the business address they mentioned on the application.
Note:
  • In case of application submission in person is entertained, please use the following link to locate the office and submit in person.
  • Link for contact details: link in the given page please use the location icon on the map for contact details near your region or use the drop-down list under “Select ROC” for your region contact detail.
  • It is advisable to take the help of a Charted Accountant to complete this process with ease.
  • Applicant shall use the link given here to get help in registering the firm: link In the given page, select MCA SERVICES menu. This menu has a list of options to cater applicant’s requirement. Please choose the required services online.


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Required DocumentsEdit

  • Application form
  • Copy of PAN of all Promoters/ Directors
  • Directors/promoters Residence proof (ration card / Bank Statement/ Telephone Bill / Electricity Bill / Aadhaar card)
  • Directors/promoters Identity proof (Voter ID card / Passport / Aadhaar card / Driving licence)
  • Photograph of all directors/promoters
  • Proof of ownership of registered office or rental agreement for the same
  • NOC from the owner
  • Applicable stamp duty as mandated by the state
  • Document evidencing payment of fee if any.
  • Copy of “Memorandum of Association (MOA)” and “Articles of Association (AOA)”.
  • No objection letters from directors/promoters
  • Aadhaar card of directors/promoters
  • Other documents will be drafted by professional (CS/ CA)
Note:
  • Apart from the above documents, authorities may ask for additional information or documents. Please provide them for processing.


Office Locations & ContactsEdit

Registrar Of Companies
37/17, Westcott Buidling, The Mall, Kanpur-208001, Uttar Pradesh.
Phone: 0512-2310443
E-mail: roc.kanpur@mca.gov.in
Contacts: link in the given page please use the location icon on the map for contact details near your region or use the drop-down list under “Select ROC” for your region contact detail.

INFORMATION AND FACILITATION CENTER,
Garage No.14, "A" Wing, Shastri Bhawan,
Rajendra Prasad Road, New Delhi - 110001.
Phone: 011-23386110.
Contacts: link

EligibilityEdit

  • Minimum two people are required for registration of Section 8 Company.
  • You are eligible to register a firm or company in India, if you are
    • Indian origin or a
    • NRI (Non-Resident Indian) or a
    • PIO (Person of Indian Origin) or a
    • OCI (Overseas Citizenship India).
  • With a proposal to offer unsecured loan of Rs 50,000 to small business and loan up to Rs1.25 lakh to dwelling residence.
  • It should be a Non-profitable organization (Trust, NGO, Society or Company).


FeesEdit

  • Fees for name approval Rs.1000.
  • Fees for PAN/TAN Rs.130.
  • Fees for Digital Signature Certificate Rs.1000 per certificate.
  • Stamp paper charges should be born as per requirement.
  • Professional charges for the CA/CS are to be paid.
  • Please make authorized / nominal capital as per requirement.
  • fee structure is provided by the government on Fee link


ValidityEdit

  • The approved company name should be submitted before incorporation or within 6 months of the name being made available.
  • The registration of a firm is valid forever until the government has any changes to incorporate.


Documents to UseEdit

Please attach documents that can be used by people. e.g. links



Sample DocumentsEdit

Please attach sample completed documents which would help other people who would like to follow this procedure.



Processing TimeEdit

  • After obtaining the name approval, it normally takes approximately two to three weeks to incorporate a company depending on where the company is registered.


Related VideosEdit

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type="website">video ID|width|height<&/video&> from external websites.
Please remove the "&" inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url "http://www.youtube.com/watch?v=Y0US7oR_t3M" Video ID is "Y0US7oR_t3M".


InstructionsEdit

  • Micro Finance Company (section 8 companies) registration does not require RBI approval or minimum funds for registration.
  • Do not submit fake documents as a proof to get sanction.
  • Incomplete application will be rejected.
  • Avoid spelling mistakes while filling the application form.
  • Microfinance companies are prohibited from accepting any form of deposits.



Required InformationEdit

  • Name of the firm
  • Name of the applicant
  • Address of the applicant
  • Phone
  • Email ID
  • DIN details
  • Director name
  • Principal place of business
  • Partners name
  • Permanent address
  • Date of application
  • Remarks
  • Reference number for name approval


Need for the DocumentEdit

  • Micro Finance Company registration is required to run a non-deposit taking Non-Banking Financial Companies (NBFCs).
  • Without formal registration, these institutions can’t offer microfinance to families with low income and living in rural and urban areas.
  • The Micro Finance Companies cater to the individuals/organizations which are unable to borrow money from mainstream banking and financial institutions.


Information which might helpEdit

  • Members of micro finance company don’t give any dividend.
  • A micro finance company cannot be converted into one Person Company.


Other uses of the Document/CertificateEdit

Please explain what other uses of obtaining this document/certificate are. 
e.g. Birth Certificate can be used as proof of identity.


External LinksEdit

Place some external links which might help.


OthersEdit

More information which might help people.


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