Minimum Legal requirement need to be followed in first 12 months:-
1. Minimum of 200 members (within 1 year)
2. Net owned fund of Rs. 10, 00, 000 (within 1 year)
3. Unencumbered term deposit not less than 10% of o/s deposits.
4. Compulsorily filing of Annual Accounts, Audit and Tax returns.
Documents Required for Registration
1. Proof of the registered place of business (Ownership documents/ rent or lease agreement)
2. No Objection Certificate (signed by the owner/ landlord)
3. Identity proofs
4. Address proofs of the members
5. Photos of the members
6. PAN card copies of the members
7. Digital Signature (DSC)
8. Director Identification Number (DIN) of the directors
9. Memorandum of Association of the company (MoA)
10. Articles of Association of the company (AoA)
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