MUMBAI: The RBI has simplified the process of registration for a holding or a core investment company, reducing the documents to be submitted to 18 from 52. The RBI has undertaken a comprehensive review of the system of processing of applications for registration as core investment companies (CICs).
The documents that are required to be submitted include details of access to public funds, certificate of incorporation, memorandum of association, credit bureau report, copy of experience certificate, board resolution approving the application, board resolution stating that the company will not accept public deposits and another stating that it will not trade in its investments in shares and bonds.
