Nidhi Company Registration
What is a Nidhi Company?
A Nidhi companybelongs to the category of non-banking finance firms.Recognized under Section 406 of the Companies Act, 2013, it is governed by the centralgovernment. The basic business of such a company is to facilitate lending money between the core members of the company.Examples of a Nidhi Company are permanent funds, mutual benefit funds, a mutual benefit company and benefit funds.
The core idea behind creating a Nidhi Company is to receive funds (deposits) from members or lend to them, for the mutual benefit of both parties. All lending and borrowing must comply with rules laid downinChapter XXIV of Company Rules, 2014.
The core idea behind creating a Nidhi Company is to receive funds (deposits) from members or lend to them, for the mutual benefit of both parties. All lending and borrowing must comply with rules laid downinChapter XXIV of Company Rules, 2014.
One DSC & three DINs
Company Name Reservation
Discussion on Class
Final Application
RBI Approval
Essential Facts on Nidhi Company Registration
You need to appoint a minimum of three directors and have seven shareholders. So, a total of 10 individuals are needed to form a Nidhi. You need to register the company as a limited company under Companies Act, 2013. Nidhi Companies take almost a month or even longer to register.
Yes, you can expand operations.A minimum of three branches can be opened in a particular district. In case you want to expand outside the district or want to open more than three branches, intimation needs to be issued 30 days prior to opening to the Registrar of Companies.
The conditions laid down by the Act says that a Nidhi company should acquire a minimum of 200 members within one year. However, in case you have not been able to acquire the required numbers, you can apply for an extension with the authorities.
No, only the members are allowed to deposit, borrow or lend funds.
Any person can deposit, lend or borrow money through the provisions provided by Companies Act, 2013. They can all become members of the Nidhi provided they are not a corporation or a company.
A Nidhi can accept deposits not exceeding 20 times of its net owned assets as mentioned in the last audited statements.
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Registration Cost
All Inclusive Pricing - No Hidden Fee
Standard
5899
All inclusive fees
- GST Registration
- MSME Registration
- Bank Current Account
- LEDGERS Accounting Software
- EQL Business Credit Card
Premium
10899
All inclusive fees
- GST Registration
- MSME Registration
- Bank Current Account
- EQL Business Credit Card
- Trademark Filing