Smritikana Business Solutions – Company Registration & Compliance Experts India

Inception Hub

Company Registration Services

Select an entity type to explore the process, documents, and key details.

Microfinance Company

In India, microfinance loans are collateral-free loans for households with an annual income up to ₹3,00,000, with loan amounts commonly ranging between ₹5,000 and ₹1,50,000.

What is Microfinance?

Microfinance provides small loans to help small shop owners, farmers, women entrepreneurs, and self-help groups (SHGs).

Loan Amount: ₹5,000 to ₹1,50,000 (standard range)
Interest Rate: 18% – 26% per year (RBI regulated)
Regulator: Reserve Bank of India (RBI)

Aadhaar Card

PAN Card

Income Proof

Address Proof

Passport Photo

Bank Statement

Features & Advantages

No big collateral required
Easy documentation & Quick approval
Group lending model common
Improves financial inclusion

Risks & Constraints

50% monthly household income limit for repayments
High interest compared to banks
Weekly/Monthly EMI pressure
Risk of over-borrowing

Microfinance Company Software

Complete ERP solution for MFIs, NBFCs, and Credit Societies. Manage your entire loan portfolio, group lending, and collections with ease.

Group/Center Management

Loan Origination System

Automated EMI Calculation

Mobile App for Field Officers

RBI Compliance Reporting

Tally Integration

Get Demo Software

Why Our Software?

Real-time collection tracking
Integrated Accounting & Ledger
SMS/WhatsApp notifications
Cloud-based & Secure
User-friendly for rural staff

Private Limited Company

Most popular choice for startups and growing businesses. Offers limited liability, separate legal identity, and strong investor appeal under the Companies Act, 2013.

Key Notes

Registration in 10–15 working days
100% online — no physical visit required
No minimum share capital
At least 2 directors & 2 shareholders

PAN Card

Aadhaar / Voter ID

Passport Photo

Utility Bill

NOC from Landlord

Rent Agreement

Obtain DSC & DIN

Digital Signature Certificates and Director Identification Numbers for all proposed directors.

Name Approval via RUN

Two unique name options filed with MCA for approval within 2–3 working days.

Draft MOA & AOA

Memorandum and Articles of Association drafted with all director declarations.

File SPICe Form to ROC

Complete incorporation application submitted to the Registrar of Companies.

Certificate of Incorporation

COI issued with PAN and TAN automatically generated and sent via email.

LLP Registration

Combines benefits of a company and partnership. Ideal for professional service providers under the LLP Act, 2008.

Key Notes

Registration in 10–15 working days
No minimum capital requirement
No audit required below ₹40L turnover
Minimum 2 designated partners

PAN Card

Voter ID / Passport

Passport Photo

Bank Statement

Office Utility Bill

NOC / Rent Agreement

DSC for Partners

Digital Signature Certificates for all designated partners.

Name Approval via LLP-RUN

Reserve unique name through the MCA portal.

File e-Form FiLLiP

Incorporation application with partner details and documents.

LLP Agreement (Form 3)

Notarized LLP agreement filed within 30 days of incorporation.

PAN Application

PAN applied once certificate of registration is received.

One Person Company (OPC)

Upgrade from sole proprietorship — gives a single entrepreneur all benefits of a Private Limited Company with full liability protection.

Key Notes

Registration in 10–15 working days
Only Indian resident citizens eligible
No minimum capital; max ₹50L
One director & one nominee required

PAN Card

Aadhaar / Voter ID

2 Colour Photographs

Address Proof

NOC from Owner

Utility Bill

Obtain DSC

Digital signature for the single director/shareholder.

Name Approval (RUN)

Unique company name filed online with two options.

Draft MOA & AOA

All declarations including nominee consent documented.

File SPICe Form to ROC

Incorporation application submitted with all attachments.

Certificate of Incorporation

COI issued with PAN and TAN automatically generated.

Nidhi Company Registration

Promotes saving and thrift among members, offering loans at lower rates. Operates without RBI approval under Companies Act 2013.

Key Notes

Registration in 10–15 days
Minimum paid-up capital: ₹10 Lakh
3 directors and 7 members at registration
Must reach 200 members within 120 days

PAN Card

DL / Voter ID / Passport

Bank Statement (2 months)

Passport Photo

Utility Bill (Office)

NOC / Rent Agreement

KYC & DSC of Directors

DIN from MCA and Digital Signatures for all directors.

Name Approval (RUN)

Unique name with "Nidhi Limited" suffix reserved via MCA.

Documentation

MOA, AOA, declaration sheets and subscription sheets drafted.

Incorporation via SPICe

COI issued with PAN and TAN.

File NDH-4

Declaration as Nidhi Company filed within 120 days.

NBFC-MFI Registration

NBFC-MFI means Non-Banking Financial Company – Microfinance Institution. It is regulated by the Reserve Bank of India (RBI).

Key NBFC-MFI Rules

Loans mainly for low-income households
Maximum loan limits defined by RBI
Interest rate and borrower income rules must be followed

⏱ Time Required: Usually 4–6 months.

Certificate of Incorporation

MOA & AOA (mentions microfinance)

Directors' KYC & Profiles

Board Resolution for NBFC-MFI

5-year business plan

Banker's & No-lien Certificates

CA Certificate for Net Owned Fund

Company Incorporation

First register a Private Limited / Public Limited Company under the Companies Act 2013.

Minimum Capital Requirement

Minimum Net Owned Fund (NOF) = ₹7 crore. For companies in North-East states = ₹5 crore.

Open Bank Account

Deposit the required capital and obtain Banker’s, No-lien, and CA Net worth certificates.

Prepare Documents

Compile Incorporation Certificate, MOA/AOA, KPIs, Business Plan, and Financials.

Apply to RBI

Submit the online application through the RBI PRAVAAH Portal.

Submit Physical Documents

Send the hard copies of all documents to the RBI regional office.

RBI Review

RBI checks promoters’ background, financial strength, business plan, and compliance.

Certificate of Registration

After approval, RBI issues the NBFC-MFI Certificate of Registration (CoR) to lend.

NBFC-P2P Registration

NBFC-P2P is a Peer-to-Peer Lending Platform that connects borrowers & lenders directly. It does not lend its own money, acting strictly as a facilitator regulated by the RBI.

Important NBFC-P2P Rules

Max lending: ₹50 lakh per lender (across platforms)
Max borrowing: ₹10 lakh per borrower
Platform cannot lend its own money
All transactions must be digital and transparent

💳 Escrow Account System

Money never moves directly through the NBFC-P2P company. Instead, funds are securely routed through bank-managed escrow accounts.

Lending: Lender → Escrow → Borrower
Repayment: Borrower → Escrow → Lender

⏱ Time Required: Usually 4–6 months.

Company Incorporation

First register a Private Limited Company under the Companies Act 2013.

Minimum Capital Requirement

Minimum Net Owned Fund (NOF) = ₹2 crore. Must be deposited in the bank account.

Technology Platform Setup

Develop P2P lending website/app, secure databases, and verification systems.

Prepare Document Archive

Compile COI, MOA/AOA, CA Net worth certificates, Business & Tech plans.

Apply to RBI

Submit the application via the RBI PRAVAAH Portal and upload all required documents.

RBI Verification

RBI checks promoter background, financial strength, and technology platform security.

Certificate of Registration

If approved, RBI issues the NBFC-P2P CoR, allowing platform operations to begin.

NBFC Registration

Non-Banking Financial Companies offer loans, asset financing, investments — without a banking licence. RBI-regulated with significant operational advantages.

Key Notes

RBI approval takes 90–120 days
Minimum Net Owned Fund: ₹2 Crore
100% FDI allowed
Up to 1000 branches without RBI approval

Certificate of Incorporation

MOA & AOA

KYC & Income Proof

Net Worth Certificate

Clean Banker Report

Director Experience Proof

Company Registration

Board & Business Plan

Form Board of Directors and develop detailed 5-year business plan.

Capital Deposit

Set up ₹2 Crore Fixed Deposit for RBI Net Owned Fund requirements.

Online Application to RBI

File online and submit physical copy to regional RBI office.

RBI Decision

Decision within 90–120 days. Commencement filed within 6 months of licence.

Producer Company

Designed for farmers and primary producers. Blends cooperative society benefits with corporate structure. NABARD provides financial assistance.

Key Notes

Registration in 20–25 working days
Minimum paid-up capital: ₹5 Lakh
Complete Income Tax exemption available
Minimum 10 members required

PAN Card & Photo

Voter ID / Passport

Producer Proof (Khasra)

Rent Agreement

Office Utility Bill

NOC from Owner

Obtain DSC

Digital Signature Certificates for all proposed directors.

Name Approval (RUN)

File name with registrar of companies; approval within 20 days.

Documentation

Directors' declarations, MOA, AOA, subscription sheets prepared.

File SPICE e-Form with ROC

Certificate of Incorporation issued within 7 days of submission.

Section 8 Company (NGO/NPO)

Most credible form of NGO under Companies Act 2013. Promotes social welfare, education, arts, science — with significant tax benefits and nationwide authority.

Key Notes

Registration in 10–15 working days
No minimum share capital required
Exempt from stamp duty on MOA & AOA
Tax exemption under 12AA & 80G

PAN Card

Voter ID / Passport

Bank Statement / Utility Bill

Passport Photo

NOC from Owner

Office Utility Bill

Obtain DSC

Digital Signatures for all proposed directors.

Name Approval

Name must include: foundation, society, association, federation, etc.

Central Govt. Licence (INC-12)

Apply to Regional Director, MCA — granted within ~15 days.

File Incorporation with ROC

Certificate of Incorporation with CIN issued.

PAN, TAN & Bank Account

Obtain PAN, TAN and open bank account to commence operations.

Society Registration

Registered under the Societies Registration Act, 1860 for literary, scientific, or charitable purposes. Minimum 7 members required.

Key Notes

Registration in 10–15 working days
No minimum capital requirement
Minimum 7 members required
100% online service

MOA

Rules & Regulations

Member ID & Address Proof

Office Bearers' Affidavit

NOC / Office Proof

Cover Letter

Finalise Society Name

Must be unique, not violate trademark or government regulations.

Draft Memorandum of Association

Includes name, objectives, governing body details and registered office.

Prepare Rules & Regulations

Membership, elections, meetings, auditors and dispute resolution clauses.

File with State Registrar

Submit 2 copies to the state authority with requisite fees.

Trust Registration

Governed by the Indian Trusts Act, 1882. Public Charitable Trusts widely used to establish schools, hospitals, old-age homes and philanthropic institutions.

Key Notes

Registration in 10–15 working days
No minimum capital requirement
Minimum 2 trustees required
100% online service

Trust Deed (Notarized)

MOA & Rules

KYC of Trustees

Affidavits

Registered Office Proof

ID Proof All Members

Select Trust Name

Must not suggest government patronage; comply with Emblems and Names Act, 1950.

Determine Author & Trustees

At least 2 trustees required.

Draft Trust Deed

Comprehensive deed with settler, trustee, beneficiary, objectives, bylaws clauses.

Submit to Registrar

Trust deed on stamp paper with 2 witnesses and settler present.

Public Limited Company

Can raise capital from the public through IPO and stock exchange listing. Ideal for large enterprises seeking significant funding and market credibility.

Key Notes

Registration in 10–15 working days
Minimum paid-up capital: ₹5 Lakh
Minimum 7 shareholders and 3 directors
SEBI approval for 500+ members

PAN Card

Voter ID / Passport

Bank Statement

Passport Photo

Property Papers / Rent Agreement

NOC from Landlord

DSC & Name Approval

Digital Signatures for all 7+ shareholders. Name approved via RUN form.

Draft MOA & AOA

Memorandum with main object clause and Articles of Association prepared.

File SPICe e-Form with ROC

Incorporation application with MOA, AOA, INC-9, DIR-2 and INC-10.

Certificate of Incorporation

COI issued by ROC with CIN. PAN and TAN on incorporation certificate.

Transforming Thoughtsinto Truthful Reality.

Company Registration

Tax & Compliance

Legal Solutions

Live Markets & Tools

Business Alteration

Intellectual Property

Microfinance Company

Microfinance Company Software

Private Limited Company

Obtain DSC & DIN

Name Approval via RUN

Draft MOA & AOA

File SPICe Form to ROC

Certificate of Incorporation

LLP Registration

DSC for Partners

Name Approval via LLP-RUN

File e-Form FiLLiP

LLP Agreement (Form 3)

PAN Application

One Person Company (OPC)

Obtain DSC

Name Approval (RUN)

Draft MOA & AOA

File SPICe Form to ROC

Certificate of Incorporation

Nidhi Company Registration

KYC & DSC of Directors

Name Approval (RUN)

Documentation

Incorporation via SPICe

File NDH-4

NBFC-MFI Registration

Company Incorporation

Minimum Capital Requirement

Open Bank Account

Prepare Documents

Apply to RBI

Submit Physical Documents

RBI Review

Certificate of Registration

NBFC-P2P Registration

Company Incorporation

Minimum Capital Requirement

Technology Platform Setup

Prepare Document Archive

Apply to RBI

RBI Verification

Certificate of Registration

NBFC Registration

Company Registration

Board & Business Plan

Capital Deposit

Online Application to RBI

RBI Decision

Producer Company

Obtain DSC

Name Approval (RUN)

Documentation

File SPICE e-Form with ROC

Section 8 Company (NGO/NPO)

Obtain DSC

Name Approval

Central Govt. Licence (INC-12)

File Incorporation with ROC

PAN, TAN & Bank Account

Society Registration

Finalise Society Name

Draft Memorandum of Association

Prepare Rules & Regulations

File with State Registrar

Trust Registration

Select Trust Name

Determine Author & Trustees

Draft Trust Deed

Submit to Registrar

Public Limited Company

DSC & Name Approval

Draft MOA & AOA