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The package includes:

  1. Certificate of Registration with ROC
  2. Review of Eligibility Norms for CIC
  3. Preparation & filing of Application with RBI
  4. Liaison & Responding to queries raised by RBI
  5. Certificate of Registration from RBI
  6. Developing Robust Mechanism of Compliance

 

Fill up the Form so that you can speak to the best Legal advisors on CIC Registration process

₹ Looking for the best consultants to register a Core Investment Company in India.

  • Complete solution for starting a Nidhi Company, including incorporation of limited company, issue of shares and obtaining Nidhi status.

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CORE INVESTMENT COMPANY

A core investment company can be defined as a type of Non-Banking Financial Company (NBFC) which holds bonds, debentures, and shares and it cannot practice the trading of these instruments. A CIC is primarily associated with the acquisition of securities and shares and also includes two other distinct traits. It holds a minimum of 90 percent of its net assets in the form of Debentures, Debt, Shares, and loans in group companies or bonds. The investments of the CIC in equity shares of group companies should be at least 60 percent of the net assets of the company. The recent improvements by the RBI have indicated the need for treating CICs differently than other NBFCs in terms of regulatory actions. RBI has also decided to classify CICs with assets of Rs. 100 crores or more than that as systemically important core investment companies.

Previously, core investment companies (CICs) did not have to obtain a Certificate of Registration (COR) from the Reserve Bank of India (RBI). However, the revision of regulatory frameworks by RBI in 2010 has introduced specific concerns that shall be emphasized by CICs. CICs which have assets valuation less than 100 crores INR are not subject to the scope of registration by RBI. All the CICs in a particular group will be taken into account for justifying the exemption of a CIC from RBI’s registration imperatives. The CICs which have assets measuring over 100 crores INR and do not access public funds are also exempted from the registration imperatives outlined by RBI. 

CICs which have assets valued more than 100 crores INR and accessing public funds through debentures, borrowing from banks or financial institutes, inter-corporate deposits or commercial paper are known as Systemically Important Core Investment Companies (CICs-ND-SI). These CICs are mandatorily obliged to get a Certificate of Registration from the RBI. The CICs which have assets evaluated at more than 100 crores INR and are accessing public funds without registration can be subjected to a penalty for violation of the Core Investment Companies (Reserve Bank) Directions of 2016.

COMPLYKART is the leading name in CIC related services in India, our well-experienced professionals have been supporting comprehensively entrepreneurs in acquiring hassle free CIC Registration. Our services include expert advisory over CIC registration, filing Application, preparing necessary documents, getting requisite approvals from the Authorities, on behalf of people and entities located in all parts of India and abroad.

 

The classification of CICs based on assets

 

CICs Less than 100 Crores INR

CICs which are registered and have total asset evaluation measuring less than 100 crores INR is the first type of CICs. These types of CICs are known for complying with the regulations outlined in Non-Systemically Important NBFC Prudential Norms of 2015.

 

CICs More than 100 Crores INR

The CICs which are registered and have total asset valuation more than 100 crores INR are the second type of CICs. These types of CICs follow the regulations illustrated in the Systemically Important NBFC Prudential Norms Directions of 2015.

 

 

ADVANTAGES OF HAVING CORE INVESTMENT COMPANY

 

Financial Security to the Group Companies

The primary advantage obtained from a core investment company could be observed in the provision of financial security for different companies in a group.

 

Easy to Register

The CIC model entails flexibility in terms of registration as compared to other NBFCs especially in terms of minimum net owned fund requirements.

 

No Requirement of NOF

A CIC does not need to have a minimum net owned fund if it is capable of fulfilling the requirements of capital as well as the leverage ratio.

 

Less Leverage Ratio

The CIC model also implies that the leverage ratio should not exceed 2.5 times the value of adjusted net worth.

 

Procedures of Registering a Core Investment Company

 

Step 1: Discussion with Experts

Submit the documents with our experts and our expert advisors shall be in touch with you on the eligibility criteria and registration process of CIC.

 

Step 2: Register a Company with ROC

Each CIC is required to obtain a Certificate of Incorporation, and this has to be provided by the Registrar of Companies and the CIC-ND-SI should apply to the RBI within three months from the date of its incorporation.

 

Step 3: Prepare & submit the documents with RBI

The application form could be downloaded from the official website of RBI that would also include guidance for filling up the form & documents required.

 

Step 6: Follow up the procedure

The application form should be submitted at the Regional Office of Department of Non-Banking Supervision with the required documents that would be outlined in the later part of this discussion.

 

Documents

 

  1. Details regarding access to public funds.
  2. Verified copies of the Certificate of Commencement of Business and Certificate of Incorporation of the applicant company.
  3. Information regarding the management.
  4. CIBIL data about the directors in the company.
  5. Financial statements of unincorporated bodies in the group for the last two years.
  6. Board resolution showing the approval for submitting the application as well as its contents and authorizing personnel.
  7. Board Resolution about the company staying away from accessing public funds or trading with the investments in debts, shares, bonds, loans in group companies and debentures.
  8. Details about the other CICs involved in the group.
  9. Business plan for the company with an outlook for the next three years illustrating the projected balance sheets, market segment and thrust of business.

 

How can we help you?

 

Modern approach

A contemporary approach to financial advisory services has been the foundation of our services for clients. This is specifically intended to facilitate new opportunities for clients to utilize their resources effectively with appropriate guidance for legal implications for starting a core investment company.

 

Your friend in need

We believe in the power of support for succeeding in the financial services industry. Our clients can be assured of round the clock support from our managers and support staff to clear obstacles in the registration process.

 

Keeping the client in mind

Standard services for registration of a core investment company are built according to the preferences of clients. Our experts are always committed to communicating necessary details about the basic conditions required for core investment company registration. 

 

Services that count

Finally, we make sure to stay updated with the new norms and regulations introduced by RBI. The diverse expertise of our staff and knowledge of RBI guidelines makes it easier for us to serve our clients.

Compare your Options

Comparison of Popular Company Registration Options

All Features

Price

  • Recommended for
  • Venture Capital Funding
  • Limited Liability Protection
  • Dividend Tax
  • Deposits from public
  • Share Listing in Stock Exchange
  • Credibility

Public Limited

₹37899

  • Growth Stage and also for early stage with broad business vision
  • 10/10

Private Limited

₹12999

  • Early-stage entrepreneurs with broad business vision
  • 7/10

Limited Liability Partnership

₹7999

  • Professional service firms
  • 5/10

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