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What is Nidhi Company Registration?

A Nidhi company registration has a place with the class of non-banking fund segment firms. The Nidhi Company registration engages loaning cash and empowering investment funds between the individuals from the company. Nidhi Company is characterized under Section 406 of Companies Act, 2013 and Companies (Nidhi Companies) Rules, 2014. The Nidhi Companies is represented/administered by the Central Government, Reserve Bank of India (RBI) is engaged to give headings with respect to the issues identified with the acknowledgment of stores.

Why Nidhi Company?

  • Nurturing the propensity for setting aside extra cash.
  • Lending cash to and accepting stores from its individuals just, for their basic advantage.
  • Nidhi is the most secure and the least expensive method for raising assets from the General open (just by enlisting them as individuals).

Legal Requirements

A) Initial Share Capital Requirement & shareholder requirement.

Least paid up offer capital required - 5 Lakh Rupees.

Minimum 3 Directors and 7 individuals as members.

B) Minimum Legal requirement need to be followed in first 12 months

Every Nidhi Company within the period of one year from the commencement, shall have

1. Minimum of 200 members (within 1 year )

2. Net fund of Rs. 10,00,000 (within 1 year )

3. An unencumbered term deposit is not less than 10% of outstanding deposits.

4. Compulsorily filing of Annual Accounts, Audit and Tax returns.

5. The ratio of net owned funds to the deposit must not be more than 1:20.

6. The net owned fund of the company should be Rs. 10 lakhs or more. Note that the Net owned fund is the sum of paid-up equity share capital and free reserved as reduced by the stored and intangible assets appearing in the last audited balance sheet.

Our Services

Record the application for Nidhi company registration.

DSC and DINs.

Name registration check for the Nidhi company.

Draft the Memorandum and Articles of Association

PAN and TAN of the company.

Timetable for Nidhi company.

Free consultancy for 1 Month post registration.

What is the process of Nidhi company registration process?

Step-1 : DSC and DIN Application

The approved signatories, just as chiefs, will get DSC to sign structures carefully. The application is made before computerized signature specialist agents.DIN (Director Identification Number ) ought to be gotten by the chiefs of the Nidgi company.

Step-2 : Name reservation

Do check your proposed company name accessibility on MCA. Structure RUN is utilized to check the name accessibility and endorsement over MCA.

Step-3 : MOA and AOA

The object of the Nidhi Company will be drafted unmistakably. MOA (Memorandum of Association) and AOA (Article of Association) are vital reports of the company; consequently a specialist must define these archives. MOA and AOA are recorded with the Registrar of the Company.

Step-4 : Nidhi company registration application

For the Nidhi company registration E-structure SPICE 32 is required to be filled alongside vital reports. MOA and AOA are additionally joined as the connection in e-Form SPICE-32.

Step-5 : Certificate of incorporation

On receipt of the application for Nidhi company registration, Registrar of the company shall scrutinize it minutely. If the application is complete and correct in all respect, the registrar shall issue the certificate of incorporation.

FAQ

  • Nidhi may open branches, just on the off chance that it has earned net benefits after expense constantly amid the first three money related years. On the off chance that a Nidhi proposes to open multiple branches inside the area or any branch outside the region, it will get the earlier authorization of the Regional Director. The suggestion is to be given to the Registrar about the opening of each branch inside thirty days of such opening.
  • No Nidhi shall open branches or collection centers or offices or deposit centers, or by whatever name called outside the State where its registered office is situated.
  • A Nidhi shall not accept deposits exceeding twenty times of its Net Owned Funds (NOF) as per its last audited financial statements.
  • The maximum balance in a savings deposit account should not exceed one lakh rupees and the rate of interest should not exceed 2% above the rate of interest payable on savings bank account by nationalized banks.
  • Every Nidhi shall issue equity shares of the nominal value of not less than ten rupees.
  • No service charge shall be levied for the issue of shares
  • Every Nidhi shall allot to each deposit holder at least a minimum of ten equity shares or shares equivalent to one hundred rupees
  • No, only secured loans can be provided.
  • Like gold, silver jewelry and immovable property can be taken, however, it shall be taken as security when the repayment time is less than one year.
  • In the case of immovable property the loan shall not exceed 50% of the value of the property offered as security - repayment time shall not exceed 7 years.
  • The loan may be given against the fixed deposit receipts, National Savings Certificates and other Government securities and insurance policies.
  • Their core business is borrowing and lending money between their members.