nidhi company india

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What is a nidhi company india?

Having a place with the arrangement of non-banking business firms and recognized beneath Section 406 of the Companies Act, 2013, it is directed by the focal government. The fundamental business of such an organization is to encourage loaning cash between the centre individuals from the organization. Instances of a nidhi company india are changeless assets, shared advantage reserves, a common advantage organization and advantage reserves. The principle idea driving building up a nidhi company india is to acquire money store from partners or add to them, for the basic increase of the two gatherings. All loaning and procuring must concur with the pronouncement expressed in part XXIV of Company Rules, 2014.

Pre registration requirements of a Nidhi Company

1.Minimum 7 members
2.Minimum 3 directors
3.No minimum capital requirements
4.prefernce shares are not allowed to be issued
5.Objective of the company is to receive deposits and lend advances to its own members

Post registration requirements of Nidhi company

1.Minimum 200 members within 12 months of registration
2.Minimum net owned funds of Rs.10 lakh
3.Unencumbered term deposits of not less than 10% of the outstanding deposits.
4.Members shall not include a trust or a body corporate or a minor
5.Net owned funds to deposits should be 1:20

Process of Nidhi Registration

1.Name approval in RUN facility
Every company wish to be incorporated as Nidhi Company shall file name availability in RUN facility of MCA portal and shall include the word Nidhi Limited as part of its name
2.Obtaining Diigital Signature Certificate
The proposed directors of Nidhi Company has to obtain Class 2 DSC
3.File Form SPICe 32
After the name has been approved,the following documents shall be filed with Form SPICe32

  • Memorandum of Association
  • Articles of Association
  • PAN Card of subscribers
  • ID proofs of first directors
  • Address proof of first directors
  • Address proof of Registered Office
  • Latest utility bill of Registered Office
  • NOC of owner of Registered office
  • Consent and Declaration from first Director in Form DIR 2
  • Self declaration from subscribers and first diectors in Form INC 9
4.Certificate of Incorporation
Once all the documents are filed and registration fee and stamp duty are paid, then the Certificate of Incorporation shall be issued
5.Transactions which Nidhi Company cannot enter

  • Continuing business of chit fund, leasing finance, insurance, hire purchase or acquisition of securities issued by any corporate body
  • Business other than borrowing and lending in its own name. Nidhi Companyoffers lockers on rent to its members subjected to rental income from such facilities not exceeding 20% of the gross income of the Nidhi at any time during the ongoing financial year
  • Accept deposit from anyone else other than its members
  • Pledge any of assets lodged by its members as security

Nidhi Company Package

  • Nidhi company

  • Rs34899

  • Pre registration
    Minimum 7 members
  • Post registration
    Minimum 200 members