1.
Wish to open a new
branch, it is always
tempting to develop or
expanding our business
by opening a new branch
office.There are some
significant things you must
keep in your mind before
start up.
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registration-coimbatore.php

2.
There is no specific provision under the 2013 Act with respect to the
opening of new branches which are matters day to day for the
Management of the company to decide. It may be required to have
a resolution of the Board of Directors and for this purpose call and
hold a meeting of the Board in accordance with the procedure.
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registration-coimbatore.php

3.
Every branch may be treated as an
establishment or unit or division and
accordingly certain registrations such as
registration for the Value Added Tax
purposes or registration under the Shops
and Establishments Act may be
necessary. A branch can also carry on
only that business for which the company
is authorised by its memorandum.
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registration-coimbatore.php

4.
In the case of “Nidhi Company”, a
“Nidhi” may open branches, as
per its wish but, only if it has
earned net profits, after tax
continuously during the
preceding three financial years.
Further subject to the provisions, a
“Nidhi” may open up to three
branches within the district.
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5.
If it opens more than three branches outside or within the district, it
shall obtain the prior permission of the Regional Director and need to
intimate to the registrar within thirty days about the opening of each
and every branch.
No “Nidhi” shall open branches or collection centres or offices or
deposit centres, or the registered office is situated whatever the name
called outside the state.
Nidhi shall not open branches or collection centres or offices or
deposit centres, or the financial statement and annual return (up to
date) are filed with the Registrar unless it is called by some name
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6.
Conditions to Remember
A “Nidhi” shall not close any branch
unless it-
(a) publishes an advertisement in a
newspaper in the vernacular language,
about its closure thirty days prior, in
order to inform this to the public.
(b) The advertisement copy will be
fixed or a notice which informs about
such closure of the branch on the notice
board of “Nidhi” for a period of at least
thirty days from the date of the
advertisement was published under
clause and gives an intimation to the
Registrar within thirty days of such
closure.
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7.
In the case of a Non-banking Financial Company [NBFC], opening a new
branch where the NBFC is a company engaged in lending against gold
jewellery, no new branch can be opened by such an NBFC without first
ensuring that suitable arrangements are made for security and for storage
of gold jewellery, including safe deposit vault.
Non-Banking Financial Company must obtain a prior approval from the
Reserve Bank for the new branches in the case of exceeding
1000.However, NBFCs which already have more than 1000 branches may
approach the Bank for prior approval for any further branch expansion.
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8.
If the opening of a new branch is a very important activity or
milestone, it may be necessary to notify stock exchanges under
clause 36 of the Listing Agreement.If there is any special
provision under the shareholder agreement or any other
agreement with respect to opening new branches or closing of
branches, please ensure to comply with those provisions.
For the opening of any branch of your company abroad
comply with the provisions of the Foreign Exchange
Management Act, 1999 to the extent applicable.
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9.
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