Uttarakhand - Get Chit Fund Business License or Permit

ProcedureEdit

Apply In-Person:

Any valid registered Private or Public limited company intends to carry Chit Fund Business should apply for registration of the company with the Registrar of Chit Fund department.
Contact details Link
Go to the respective office.
Meet the designated staff at the registration counter/desk. The applicant shall get the advice from the authority to be followed to apply for this licence.
Please get information on updates / new amendment to establish the by-laws (A set of rules and regulations as per the government norms).
Please collect the application form or write on a plain A4 sheet as advised.
Application form can also be obtained using the following Form Link please use the “Application Form for the issue of Certificate of Registration” form.
Complete the application form. Attach the entire required document as per our “Required Documents” section and submit it along with the applicable fees (trough treasury receipt / as per acceptable format) to the designated receiving authority.
After receiving the application, authorities will check the submitted application and document set. If all are in place the application will be accepted.
Authorities will make entries about this application in the manual record or electronically using computer.
Acknowledgement receipt will be given against every application form received. So, collect it and please keep it safe for future reference.
This application will be processed further.
Applicant will get update about the progress of their application through SMS in their registered mobile number or through email.
This application will be verified and documents will be scrutinized.
After all the prescribed documentary requirements are fulfilled, the department will forward this application to the inspector of chits / designated authority for spot inspection of the proposed registered office of the company.
On the scheduled date Inspection will be carried out by the inspection team.
The outcome of the inspection will be submitted as a report back to the issuing authority.
Based on the outcome of the above report and other internal processing the issuing authority will make a decision.
The status, viz. Approval or Rejection if any will be conveyed to the applicant through an SMS or email.
If approved the licence shall be signed by the Registrar and shall bear his official seal. Along with licence, the duplicate copy of the by-laws endorsed by the Registrar will be delivered.
The licence will be delivered by post to the registered office address as per the address mentioned in the application form or as per applicable norms.

Note:

It is advised to submit additional set of copy of the documents and get countersigned for your safety while applying with government department.
Visit your nearest chit fund firm in your region and consult with them for any latest update requirements.

Required DocumentsEdit

Application form
Memorandum and Articles of Association.
Incorporation Certificate.
Form No. 2 regarding shares allotment.
Form No. 18 regarding registered office.
Form No. 32 regarding appointment of Directors.
R.O.C. Receipt for filing of form No. 2, 18, 32.
Bank certificate for deposit of Rs. 1,00,000/- or for the specified value as paid-up capital.
Resolution for appointment of foreman of the company.
Affidavits of the Directors regarding:-
- Age, good health and sound mind.
- Insolvency.
- Non-conviction.
- Membership / Directorship in other chit fund company if any.
Proof of ownership of the office premises.
No objection certificate from the landlord if rented.
Rent Receipt of premises.
Lay out plan of premises.
Photo-copies of the Election Card/Passport etc. of the Directors.
Net-worth certificate issued by CA of the company in respect of all the Directors of the chit fund company along with supporting documents.
Balance sheet(s) of the company / partnership / proprietorship.
Bye-laws in duplicate.
ID Proof of the foreman (PAN/DL/Passport/Bank Passbook)
Address Proof of the foreman (DL/ Passport/Bank Passbook)
Letter head
Aadhaar Card of foreman

Note:Apart from the above listed documents, authorities may ask for additional information or document. Please provide them for smooth processing.

Office Locations & ContactsEdit

Office of the registrar - chit fund department
University Road, Dehradun,
Phone: 9410789438
Mail - regfscddn@gmail.com
Contact Link

EligibilityEdit

Those who are 18 years and above are eligible to apply.
The applicant must not have any criminal records.
Business must be legally permissible.
The Company should have at least an amount of Rs.1,00,000/- or the amount specified in the bank as paid-up capital.
All Directors/Partners.
- who are 18 years and above are eligible to apply.
- who possess good health and sound mind.
- who should not have been convicted in any case.
- Should be financially sound.
Also the registered office should be:-
- Having at least 150 square feet or as per state government norms of office area.
- Well-furnished to conduct chit fund business.
- Having an Auction Hall.

Note: Preferably, the Directors should not be related to each other.

FeesEdit

Bank certificate for deposit of Rs. 1,00,000/- or for the specified value as paid-up capital.
Fees structure is different for different states. So, please pay as authority’s advice at the time of applying in the prescribed format.
Don’t forget to take the receipt for the payment.

Also,

If the Chit amount is Rs.5.00 lakhs Fees of 0.25% of the proposed Chit amount or Rs.250 (or the fees advised) whichever is higher should be paid.
If the Chit amount is Rs.5.00 lakhs and above then the fee to be paid is 0.5% of the Chit amount or Rs.10,000 (or the fees advised) whichever is lower.

ValidityEdit

This licence or permit is valid forever until the government has any changes to incorporate.
In every case of amendment of by-laws, whether by addition of new-laws or by alteration or rescission of some existing by-laws by a foreman an application accompanied by a fee prescribed for the purpose affixed with a court fee stamp shall be submitted to the Registrar along with the complete by-laws, in duplicate as so amended and as proposed to be registered.

Documents to UseEdit

Application form can also be obtained using the following link: Form Link please use the “Application Form for the issue of Certificate of Registration” form.

Sample DocumentsEdit

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Processing TimeEdit

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InstructionsEdit

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e.g. The state office holds birth records since january 1908.

Required InformationEdit

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e.g.
1. Date of Birth.
2. City or Country of Birth.

Need for the DocumentEdit

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External LinksEdit

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