First give a 30 days Joint Public Notice by Transferor/Transferee and the Company and then complete the consideration part - No need of RBI approval
Then intimate the change in Directors,
For Name change you need prior approval
This is to inform that _____________________ (Transferors) for and on behalf of _______________ Limited, a Non-Banking Financial Company, having its registered office at ___________________________ proposes to sell their entire holding and transfer the ownership and management of the Company to _______________ (Transferee) having its registered office at ________________________, (Transferee). The Shareholder’s/Transferor’s intend to sell the shares since they do not wish to continue the NBFC related business and the Transferee intend to acquire shares, since they wish to pursue NBFC related business.
On expiry of the Notice period, The registered office of the company will be shifted to __________________________, and, the present directors __________________________ will retire and ____________________________________________ will take over the complete management of the Company.
Any person including any creditor or depositor having any objection to the proposed change in control or management of the Company may write to the company at its registered office and also to the concerned Regional Office of the Department of Non-Banking Supervision, Reserve Bank of India at Mumbai.
The above notice is being given pursuant to RBI Circular DNBS (PD) CC No. 11/02.01/99-2000 dated November 15, 1999 as amended by Circular No. DNBS (PD) CC No. 12/02.01/99-2000 dated January 13, 2000 and further amended by Circular No. DNBS (PD) CC No. 63/02.02/2005-06 dated January 24, 2006 and DNBS (PD) CC No. 82/03.02.02/2006-07 dated October 27, 2006 and other relevant regulations jointly by the Transferors, Transferee and the NBFC.
Transferors mentioned above
Transferee mentioned above.