Nidhi Company

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Nidhi Company At ₹ 49

Nidhi Company Registration

  • What is Nidhi Company?

“Nidhi” means a company which has been incorporated under Companies Act, 2013 with the Objectof develop the habit of savings amongst its member, receiving deposits and lending money to its member only for their mutual benefit. Nidhi Companies play important role in mobilising and gainfully investing small savings and improving their viability and performance.

 

  • Advantages

  1. Incorporation Process

Nidhi to be incorporated under Companies Act, 2013 shall be a public company and shall have a minimum paid up capital of 5 Lakh rupees, it’s easier to Nidhi to start business in the NBFC sector as Nidhi Company. NBFC requires huge amount of capital compare to Nidhi Company.

  1. Perpetual Succession

A Nidhi Company is a separate legal entity from their owners, it can continue business on going concern. Means after retirement, death or instability of any of their member/ director/ shareholder business of the Nidhi Company cannot be dissolved.

  1. Outsider Intervention

Nidhi companies are both owned as well as managed by their members and providing benefits to their members only. As a result, Completely no intervention from outsiders.

  1. Members Growth

Nidhi Companies receiving deposit and lending money within the members of the Nidhi company, loan given to the members are at a lower rate of interest than the market rate. This lead to greater growth of members.

 

  • Disadvantages

  1. Fund Raising

Nidhi Company can accept deposit from its member only, which restrict Nidhi company it sources of raising funds from outsiders.

  1. Issue of Preference shares and Debentures

Nidhi companies can’t issue preference shares, debentures or any other debt instrument by any name or in any form.

  1. Nidhi Company Branches

A Nidhi company may open branches only if it has earned Net Profit After Tax Continuously during the preceding 3 financial year and Open up to only 3 Branches within the District.

  1. Business Activities

No Nidhi Company shall have any object in its Memorandum of Association other than the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and leading to, its members only, for their mutual benefit.

 

  • Requirements for Nidhi Company

  1. Passport size photographs
  2. Pan card of all the directors
  3. ID Proof either Aadhaar Card or the Voter identity card
  4. Address Proof: Bank Statement/Electricity Bill/Water Bill/Telephone Bill / Mobile Bill (If any)
  5. Registered Office Proof:Electricity Bill, Telephone Bill, Gas Bill or Water Bill (If any)
  6. NOC from owner

Nidhi Company Package

The Services which are included in our package are as Follows
  • Digital Signatures of 7 Subscribers
  • DIN of Directors
  • Filing of Spice form
  • Incorporation Certificate along with PAN and TAN
  • MOA and AOA
  • Provisional PF ESI Registration
  • GST Registration
  • MSME Registration
Popular

Documents Required

Pan Card

Pan Card of all Directors and Subscribers

Identy Proof

Voter Id Card/ Driving License/ Aadhar Card/ Passport of all Directors and Subscribers

Address Proof

Bank Statement, Mobile bill, Telephone bill of all Directors and Subscribers

Photo

Passport Size Photographs of all Directors and Subscribers

Business Address Proof

Current Electric Bill/ Utility Bill as Registered Office Proof

Rent Agreement

Rent Agreement if Applicable

FAQ

Most frequent questions and answers

No, Nidhi Companies are not chit fund companies, Nidhi companies is the type of Non-Banking Financial Company which can accept deposit and provide loan to its member only. Chit fund companies are governed by chit fund act and rules, it is a type of a saving scheme in India where fixed instalment is paid by the members over a definite

period of time.

Any Persondesirous of becoming a member and who is above 18 years of agecan become a member of the Nidhi Company.

Yes, Deposits with Nidhi are safe and secured because Government of India and Reserve Bank of India has framed the various Laws, Rules, Regulations and Nidhi companies are required to strictly comply with all compliance to ensure the security and safety of deposits of members.

No, only members of a Nidhi company are eligible to obtained loan and deposited Money in Nidhi companies.

No, Nidhi companies would not open any branches or offices Outside the State where its registered office is situated, Nidhi may open only 3 branches within its district, Open branches outside the district prior approval of Regional Director is required.

No, Minimum seven members is required to form a Nidhi Company, after incorporation within a one-year Nidhi company must have at least 200 members. For formation of company doesn’t required 200 members.

Nidhi company not allowed to do business of Chit fund, Leasing Finance and acquisition of shares issued by companies, Insurance, Hire Purchase Finance.

After Nidhi Company Incorporation within a one-year Nidhi company must maintain a net owned fund of not less than Rs. 10Lacs at all times.

Nidhi companies are required to do following ROC filing compliances mandatorily:

  1. Form NDH-1-within 90 from the close of financial year
  2. Form NDH-3-within 30 days from the conclusion of each half year; 30 October/ 30April
  3. Form AOC-4 within 30 days of the annual general meeting;
  4. Form MGT-7 within 60 days of the annual general meeting.

Nidhi Company shall be given loan only against the followings:

  1. Fixed/Immovable Property
  2. Gold, Silver and Jewellery
  3. Fixed Deposit and Other Cash Deposit

Government Bonds or National savings Certificates.

Why Choose Us

Affordable

We follow a you grow we grow policy.We help you to grow your business, by taking care of all your compliance, at an affordable price.

Fast services

All your queries will be resolved in 24-48 hours.

Professional help

Our professionals will give you the advice which fits best as per situation.

ComplyQueen

Our motto is to make your compliance experience happy. That’s what our name suggests, ComplyQueen. Be compliant, be Happy.


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