Nidhi Company Incorporation within 10 days

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Nidhi Company Incorporation within 10 days

Nidhi Company is basically a NBFC (Non Banking Financial Company). The word ‘Nidhi means’ funds. It is a hindi word. In India, Section 406 of the Companies Act 2013 and Companies (Nidhi Companies) Rules, 2014 governs the procedure for Incorporation Process of a Nidhi Company. Nidhi Companies deals with lending and borrowing of funds to its members. It can lend money only to its members. In South India such types of companies are more in vogue. RBI has been discretionarily empowered in India to issue direction to such Companies for matters relating to acceptance of deposits from the members. Nidhi Companies are not allowed accept deposits other than its members.

Incorporation of a Nidhi Company requirements

Requisites before Incorporation process
  • Members : Minimum 7 members are required.
  • Director: Minimum 3 Directors
  • Capital : Minimum capital adequacy required to start a Nidhi Company is Indian_Currency_Rupee_New_Sumbol.png 10,00,000
  • DIN : For 3 members.
  • DSC : Digital Signature Certificate for 3 Directors
Requisites after Incorporation Process
  • Minimum members: Minimum 200 members
  • Net owned Funds: Indian_Currency_Rupee_New_Sumbol.png 10,00,000
  • Minimum net owned funds to deposit ratio: 1:20

Advantages for Incorporation of a Nidhi Company

  • Less Legal Compliance with Registrar of Companies
  • The liability of such Company is limited
  • Taxation benefits
  • Minimum documentation and formalities part for loans.
  • Loans are lended or borrowed only between members of the Company

Documents required​

ID PROOF (FOR MEMBERS)
  • Pan Card
  • Passport
  • Voter ID
  • Aadhar Card
  • Driving License
ADDRESS PROOF
  • Bank Statement
  • Telephone bill
  • Mobile Bill
  • Electricity bill
PROOF OF PLACE OF BUSINESS (IF RENTED)
  • Rent Agreement and NOC from Landlord is required
PROOF OF PLACE OF BUSINESS (IF OWNED)
  • Electricity Bills or Index II is sufficient.

What We Offer

Name Approval
Certificate of Incorporation
AOA & MOA
PAN Registration
TAN Registration
Digital Signature
DIN of Director
Legal Agreements

Add Your Heading Text Here

A Nidhi Company means a company which is similar to NBFC (Non Banking Financial Company) but the major difference is it lends money only to its members or borrow money only from its members. Also it can accept deposits only from its members.

Minimum 7 members are required to incorporate a Nidhi Company of which atleast 3 should be Directors.

Nidhi Companies fall under the ambit of two governing laws-

  • Companies Act, 2013 & Companies (Nidhi Companies) Rules, 2014
  • RBI Directives governing NBFC (Non Banking Financial Institution)

When a Nidhi Company is incorporated since from the date of incorporation within a period of one year it must

  • Have atleast 200 members
  • Minimum Net owned funds (NOF) of ₹ 10,00,000

 

Yes. Returns of Statutory compliance is required to be filled in form NDH-1 and half yearly return in form NDH-3.