Nareshv and Associates

Nidhi Company Registration

Expert assistance at your fingertips

Steps

1. Fill out the Form

Filling out the form is quick and easy and will provide you with numerous benefits in the long run. By this, you will be able to get consultation from our nareshv & associates CA/CS and will be able to get Guidance. So, why wait? Take the first step towards a bright future for your business and fill out the form today.

2. List of Documents Required

List of documents required for Nidhi Company Registration.

From Directors and Shareholders:

Photographs of the Directors and Members of the company
PAN Card of the Members
Copy of Rental Agreement / EB Card Copy of Registerd Office
Digital Signature Certificate of the directors
ID proof of members, such as Aadhar Card or Voter ID etc...
Address Proof of the Directors
Director Identification Number or DIN of the Directors

For the registered office:

Rent Agreement or the Sale Deed or the Lease Deed of the Registered Office or,
Address Proof of the Registered Office
NOC (No-Objection Certificate) signed by the owner of the Property

Documents needed to be drafted by CA or CS:

AOA (Article of Association) of the Company
MOA (Memorandum of Association) of the Company
MCA (Ministry of Corporate Affairs) form attestation

3. Registration Procedure

Following are the stepwise procedure for incorporation of nidhi company in India

Step 1:

Applying for DSC and DIN for directors of the company

Step 2:

Choosing the unique name and Getting the Name Approval

Step 3:

Drafting and filing the MoA & AoA to the Registrar of Companies ( ROC) with the subscription statement. These must contain the main objective of integrating or forming a Nidhi company as a charity.

Step 4:

Getting the certificate of Incorporation (CIN) which takes around 15-25 days. This CIN certificate declares that a Nidhi company has been created and it holds the identification number of the company.

Step 5:

Appling PAN, TAN for the company and it usually takes 7 working days to receive.

Step 6:

Opening a bank account by submitting the MoA, AoA, Certificate of Incorporation, and PAN of the company to the bank.

4. Advantages

Very Easy formation
Promotes Savings
Cheaper To Borrow Money
Fewer Complications
Micro Banking

5. Benefits of Nidhi Company Registration.

Nidhi Company Registration in India offers several benefits such as ease of formation, low capital requirement, and a better credit profile. Nidhi companies are non-banking financial institutions that provide easy access to funds to its members, who are also the company's shareholders. As a member-owned company, Nidhi companies offer better credibility and trust among the members. Additionally, Nidhi companies enjoy tax exemptions on their income and interest earned from the members. With our expert guidance, ensure a seamless Nidhi Company Registration process and comply with legal requirements. Register your Nidhi Company now and start building a strong financial foundation for your community.

6. . Requirements of Nidhi Company Registration.

To register a Nidhi Company in India, you need to have a minimum of seven members and three directors. The directors and shareholders can be the same individuals. The company should have a unique name, a registered office address in India, and a minimum capital of Rs. 5 lakhs. The company's primary objective should be to cultivate the habit of savings and thrift among its members. Nidhi Companies are also required to maintain proper books of accounts and comply with statutory audit requirements. With our expert guidance, ensure a hassle-free Nidhi Company Registration process and comply with legal requirements. Register your Nidhi Company now and start building a strong financial foundation for your community.

Nidhi Company Registration

What is Nidhi Company Registration?

Nidhi Company Registration Online in India is an NBFC or a Non-banking financing company and was regulated by the Ministry of Corporate Affairs and registered under Section 406 of Companies Act, 2013 and the RBI monitors all its financial dealings. The primary business of nidhi company incorporation is to help the core members of the company by lending money. The members or shareholders of the company are recommended to save and invest the money within the company. These invested deposits are then utilized by the members or shareholders of the company, to grant advances or loans, and to get or take government-issued stocks, debentures, bonds, securities and so on.

Frequently Asked Questions

1. How can I expand the operations of my Nidhi Company to different areas?

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, the Registrar of Companies need to intimated 30 days prior to their opening.

2. Should I dissolve my Nidhi Company because it has not gained the necessary numbers of representatives in spite of completing one full year of tenure?

The conditions laid down by the Act says that a Nidhi Company should acquire a minimum of 200 members within its first year of incorporation. However, in case the company is not able to meet the required numbers, it can apply for an extension with the necessary government authorities.

3. In a Nidhi Company, are members allowed to credit or debit cash to the general fund?

No, members are only allowed to deposit, borrow, or lend funds.

4. What are the criteria to become a representative of a Nidhi Company?

Any person can deposit, lend or borrow money through the provisions provided by the Companies Act, 2013. Hence, they can all become members of a Nidhi Company. provided they are not a corporation or a company.

5. In a Nidhi Company, what should the limit for cash deposit be, for its representatives?

A Nidhi Company can accept deposits not exceeding 20 times of its net owned assets, as per the last audited statements.