Below-mentioned is the process of Micro finance company registration under Society Registration Act,

• The application will be submitted to the assistant registrar of the region or sub-region as the location of the society. 
• Along with the application affix, Memorandum of association (MOA), Consent letters from all the managing committee members, All the managing committee members must sign the authority letter, etc. 
• After submitting the documents, registration fees will be paid.

Note- Unlike the Trust deed, the MOA and rules and regulations must not be executed on the stamp. Moreover, society registration is time-consuming as compared to trust registration.

Given below is the micro finance company registration process as a Cooperative Society,

• The registration application to the Registrar of Cooperative Societies will be duly filled.
• The four replicas of society’s proposed by-laws needs to be affixed.
• If all the applicants are individual, the number of applicants must not be below 10.
• In case the applicants are individuals, every applicant must sign the application.  

• The registration application must be signed by,
  1. In the Multi-State Cooperative Society case, which includes all the individuals’ members, a minimum of 50 individuals from each state are concerned. 
  2. In the case, members are Cooperative Societies, through a duly authorized representative on behalf of a minimum of five such societies as are unregistered in the same State. 
  3. Other Multi-State Cooperative Society or other Cooperative Societies, by duly authorized representatives of each society.
  
• Along with the application, the four replicas of the proposed by-laws will be affixed.
• Along with this, information regarding Name of the proposed Multi-State Cooperative Society, Area of operation, Headquarters, Fundamental objective, and more.
  

• Before filling the registration application, it will be checked whether the company name is available or not. For this, Form A needs to be submitted.
• After name approval, an individual application to the regional director of the Company Law Board will be filed.
• Affix the below-mentioned documents,
  1. Each promoter correctly signed the replica of MOA and AOA, including their name, address, and occupation.
  2. An advocate/chartered accountant declared that MOA and AOA had been formed in conformity with the Act’s provisions compiling all the Act’s requirements.
  3. Photocopy of promoters, including their name, address, and occupations. Also, provide the information regarding other companies in which directors and promoters hold positions.
  4. A statement indicating the information concerning assets and liabilities of the establishment/association, as on the date of a registration application or within seven days of that specified date.
  5. Information regarding estimated financial annual income and expenditure of the company, mentioning the source of income and objective of expenses. 
  6. If any, provide the statement of prior work done by the association and the proposed work to be done after registration.
  7. A statement including information regarding the base on which application is made.
  8. A declaration declaring that each individual creating the registration application is sound, not guilty of any offense in court, and is not disqualified under Companies Act 1956, Section 203.
• Further, within a week of applying, a notice in a minimum of one fundamental language of the district and at least in an English newspaper of the district needs to be pubished.
• At least, if within 30 days of the notice publication, no objection is raised, and after consultation with the authority license will be provided to you if you withstand the rules and regulations. 

Searching for how to start micro finance company? Check the below-mentioned steps,

• If an existing NBFC wants to convert into the NBFC-MFIs, registrationn will be done instantly to the regional office of the registered office location. 
• The NBFC to NBFC-MFI will be incorporated in the COR.

Section 620 (Under Companies Act, 2013 Section 406) enables establishing the new form of a particular type of company, i.e., “Mutual Benefit Society.”

However, particular provisions under the Companies Act have been modified concerning this section. Consequently, conditions of document’s service, additional capital, dividends, annual returns, loans, remunerations to directors, and winding up process have been changed for the Mutual Benefit Society or NIDHI company. 

Below-mention are the steps of how to start micro finance company,

• Application will be made to deputy or assistant charity commissioner.
• The public trust designation information, including trustees’ names, mode of succession, etc needs to be provided.
• Further, the court fee stamp (Rs 2) needs to be attached to the application form and the registration fees will be paid.
• The application form signed by applicant needs to be submitted before the regional officer or superintendent of regional offices or a notary. 
• The registration application will be submitted affixing the replica of a trust deed. 
• If an applicant commences trust with Rs 1,000, the trust deed should be executed on the non-judicial stamp paper. 
• The settlor (s) and trustee (s) will sign the trust deed, preferably before the notary. 
• An applicant require to submit the an affidavit and letter of consent.
• After submitting documents, a formal hearing will be dispatched concerning which you will receive a notice 10-15 prior. 
• Generally, an applicant must appear individually or with a deputy representative comprising the original trust deed for verification. 
• After inquiries, the deputy or assistant charity will enter Section I or Schedule I of the Bombay Public Trust Act.
• Finally, the certificate will be issued to you.