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Service Offered
Nidhi
Company Registration
If you are willing to set up a company as a Non- Banking
Financial Company, then Nidhi Company Registration Online is
the most preferred option.
Introduction:
Nidhi Company
Nidhi Company is a type of Non-Banking Financial Company
in India incorporated and regulated by the Section 406 of the
new Indian Companies Act, 2013. Apart from this section, the
Companies (Nidhi Company) Rules of 2014, and the Chapter XXVI
of the Companies Rules, 2014 also comply with it. This Company
has been established under the Ministry of Corporate Affairs.
The signficances of Nidhi Company Registration in India are
receiving deposits and lending the amount within the members
and for the members only. The aim of the Company is to work for
mutual benefits and develop the habit of saving among its
members. The diection of the Nidhi Limited when it comes to
accepting deposits has been authorized by Reserve Bank of
India. Nidhi Company raises funds by Recurring deposit (RD) and
a fixed deposit from its members. Moreover, it borrows to its
members upon Gold, Shares, RD, FD, Bonds, and Properties.
Registration
of Nidhi Company
At LegalPillers we provide hassle free online company
registration process for Nidhi Company Registration within
15-20 working days. The benefits that businesses are getting
from the Registration of Company are smooth functioning and
less compliance. Nidhi Company is registered under the Ministry
of Corporate Affairs. This type of Company does not need the
approval from Reserve Bank of India but does require to follow
its guidelines. Nidhi Company Registration is a procedure for
establishing a kind of NBFC in India popularly known as Mutual
Benefit Finance Company. For all Nidhi Companies, it is
necessary to have "Nidhi Limited" at the end of their name.
This Company can be established with a minimum paid-up share
capital of Rs.5,00,000. It should have atleast 200 members at
the time Company Incorporation.
Rules for
Nidhi Company
The Central Government has made 'Nidhi
Company Rules, 2014' to carry out the objectives of 'Nidhi
companies'. These rules must apply to-
Every
company which had been listed as a Nidhi Limited or Mutual
Benefits under Section 620A(1) of Companies Act, 1956.
All
companies working on the policies of a Nidhi company or
Mutual benefit society but has either not applied for or
has asked for and is awaiting notification to be a Nidhi
Limited/ Mutual Benefit Society under Section 620A(1) of
Companies Act, 1956.
Each
Nidhi Company Incorporation under the provisions of
Section 406 of the Companies Act, 2013.
Requirements
before and after Nidhi Company Registration?
There are various requirements for Nidhi
Company Registration and Nidhi Company Incorporation:
Before
Nidhi Company Incorporation:
Minimum
7 shareholders
At
least 3 Directors
Minimum
Capital of Rs. 10 Lacs
DIN
for all directors
After
Nidhi Company Incorporation:
Minimum
number of 200 Shareholders
Net
owned Fund must not be less than Rs. 10 Lakhs
Burdenless
deposits of not less than 10% of the outstanding deposits.
Net
owned funds to deposits ratio must be more than 1:20
Benefits
of Nidhi Company Registration Online
The Nidhi company registration offers
numeral reasons why not to register it. Let's have a look:
It has a separate legal entity from its promoters and
shareholders. Nidhi Limited can get the property on its
name and also acquire debts.
The Nidhi Company never required to get approval from
the Reserve Bank of India. Also, there is no need for
License from RBI for running a loan busniess in India. But
it has to adhere to the RBI's guidelines.
The company offers loans to its members at an
economical rate of interest than the market rate.
The Ministry of Corporate Affairs has made it
mandatory to have at least Rs. 10 Lacs as paid-up capital
to commence a Nidhi Company. And the liabilities of the
director is same as per Companies Act 2013.
Nidhi Company Incorporation is straightforward. It
just required to get registered as a public company with
the MCA. The minimum amount of capital is required as per
Nidhi Rules, 2014. The functioning and executing variations
in Nidhi Limited is smooth and easy as compared to other
NBFC.
It is not affected by the demise or departure of any
one or all of its shareholders. So, a registered company
will not be affected even after the death of the partner.
The Ministry of Corporate affairs manages Nidhi
Companies. Therefore, it estimates more reliable as
compared to different institutions in the same sector
controlled by state governments.
Documents
Required For Nidhi Company Registration
Documents
Required For Nidhi Company Registration
Passport
size photograph of Directors
Copy
of Aadhaar Card/ Voter identity card of directors
Copy
of Rent agreement in case of property is rented
Electricity/
Water bill/ Telephone bill of Business Place
Copy
of Property papers in case you own a property
NOC
signed by owner/ landlord)
DSC
(Digital signature certificate) & DIN (Director
Identification Number) of all the directors.
MOA
& AOA
Process
of Nidhi Company Registration
The Ministry of Corporate Affairs (MCA) has
allotted an integrated incorporation form INC-32. So soon, an
OPC can be incorporated online by filling the Simplified
Proforma for Incorporating Company Electronically (SPICe) form
in Form INC-32 using DSC of the Director together with online
MoA in Form INC-33 and AOA in Form INC-34.
The Nidhi Company Registration Process are
given below:
1
Apply for DSC & DIN
First of all, the partners have to register
for DSC (Digital Signature Certificate) and DIN (Director's
Identification Number) for Nidhi Company. DIN allots by the
MCA and DSC is a digital signature applied for all e-filing
processes.
2
Approval of Name
You have to give 3 separate name choices
for Nidhi Company to MCA of which one will be picked. So, the
Names given should be unique and suggestive & descriptive of a
company's business.
3
Submission of MOA & AOA
After the name approval, one must draft a
Memorandum of Association and Articles of Association
(MoA&AoA). MOA & AOA are registered with the MCA with
statements of subscription.
4
Obtain a certificate of incorporation
To get a registration certificate of the
Nidhi Company, it takes 15-25 working days. Incorporation
certification is evidence that the company has been formed. It
also involves your CIN number.
5
Apply for PAN, TAN and Bank account
After getting the certification of
incorporation, you need to apply for PAN and TAN. This is
important to apply because, after receiving the certificate of
incorporation MOA, AOA and PAN with bank account details are
required details.
How
LegalPillers Helps?
While planning to commence a Nidhi Company
Registration Online, keep in mind that your small finnace
business will bring good profit for you in the long term. But
at the same time, Nidhi company regisration and maintaince
requiremnets should also be taken care of. This should be done
in order to avoid any unwanted penalty or prosecution that may
affect your company.
We, at LegalPillers have professionals
which are rendering their expertise in the area of Online
Nidhi Company Registration and its consultancy related to
business execution, accountancy, taxation and legal aid
through our CA Service. For better assistance over all factors
of finance company do connect to our professionals at
9625279785 − 9267941961.
This is the best solution for small financial companies
who want to lend or deposit money from its members.
Management of NBFC companies are way high as compare to Nidhi
Company because of its association with RBI. Nidhi company is
best option for managing your finance business at town level
with limited compliance requirement
Frequently
Asked Questions
It will take 15 to 20 days to register excluding the
delays on the part of government authorities
There is no requirement of RBI approval and it is
govern by Nidhi Rules.
Nidhi Limited Company is not governed by the RBI but by
the central government and hence the central government has
introduced the Nidhi Company rules 2014 in order to better
govern the company in a more transparent manner.
No, it is not mandatory to have Nidhi Limited Company
software, however, if you want to run the business properly,
then you shall require the Nidhi Limited Company software.
Mutual benefit is the previous name of the Nidhi
Company in India. After 2013, it was made mandatory to use
the name of Nidhi Limited Company instead of Mutual benefit
for registration of Nidhi Limited Company in India.
A Nidhi Limited Company is allowed to take the maximum
of 20 times the net owned fund. Net owned fund means the
total fund invested by the owner less any accumulated loss.
For example, if you have invested Rs.1 Lack, then you are
entitled to raise funds up to Rs.20 Lack.
Nidhi Company is a type of NBFC which is registered for
accepting and lending money to its members. Nidhi Company
Registration does not require RBI Approval for its
registration and operation.
Nidhi Company Registration is quite easy. We at
LegalPillers providing Nidhi Company Registration and its
support services at very reasonable cost. For getting the
assistance over Nidhi Company Consultancy talk to our
professional at 9267941961- 96252 79785.
For opening of Nidhi Company you need at least 7
persons out of atleast 3 will be directors in the company.
For knowing the criteria over Nidhi Company Registration talk
to our Chartered Accountants and Company Secretary at
9267941961- 96252 79785.
For Nidhi Company Registration in India
you just need to follow following steps-
Creation
of Digital Signature
Preparation
of Documents and signing
Preparation
of Spice forms and submission
Approval
of Nidhi company registration.
You just needs to provide basic documents such as PAN
Card copy, Adhaar Card copy, Updated Bank Statement copy,
electricity bill of registered office, NOC or rent agreement
of office, etc.
There must atleast 7 person required out of 3 shall be
director in the company and rest of consider only as
shareholder in company.
No, A Nidhi Company can only provide loans against
gold, silver jewellery or any other property as security.
Unsecured loan is not allowed in Nidhi Company.