Online Nidhi Company Registration

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Nidhi Company Registration

Online Company Registration

Nidhi Company Registration

If you are willing to set up a company as 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: 

  • 1) Before Nidhi Company Incorporation:

    • Minimum 7 shareholders
    • At least 3 Directors
    • Minimum Capital of Rs. 10 Lacs
    • DIN for all directors

  • 2) 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: 

  • Separate Legal Existence

    It has a separate legal entity from its promoters and shareholders. Nidhi Limited can get the property on its name and also acquire debts.

  • No RBI Regulations 

    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.

  • Get credit at a lower rate 

    The company offers loans to its members at an economical rate of interest than the market rate.  

  • Limited Paid-up Capital Requirement 

    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.

  • Easy to incorporate 

    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.

  • Perpetual Existence 

    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.

  • Credibility in market 

    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

  • Copy of Director’s PAN Card
  • 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:

  • 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. 

  • 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.

  • 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.

  • 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.

  • 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.

Frequently Asked Questions

Q. How many days does it takes to register a Nidhi Limited Company
Q. Is there any involvement of RBI approval for Registration Of Nidhi Limited Company?
Q. What do you mean by Nidhi Limited Company rules?
Q. Is it mandatory to have Nidhi Limited Company software installed?
Q. What is difference between Mutual benefit Company and Nidhi Limited Company?
Q. What is the maximum amount of deposits a Nidhi Limited can accept?
Q. What is a Nidhi company?
Q. What is the Nidhi Company Registration Fees?
Q. How can I open Nidhi Company?
Q. What is the Process for Nidhi Company Registration in India?
Q. What are the documents required for online Nidhi Company registration?
Q. How many persons are required to open a Nidhi Company?
Q. Can a Nidhi company provide unsecured loan to its members?


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