Nidhi Company

Overview

“Nidhi” is a Hindi word, which implies finance or fund. Nidhi Company Registration is completed to cultivate savings among members and to supply finance among members only. it’s allowed to require loans from members and may lend to only members. Hence, it can’t accept deposits or lend from/to non-members.

Though there are not any separate registrations to be done under RBI for a Nidhi company, RBI is empowered to issue any directives to them. Nidhi Companies are intrinsically exempted from main provisions otherwise applicable to an NBFC in India. It needs a least of 7 members and 3 directors, to begin with. As a part of the suffix, all such companies must include “Nidhi Limited” following its name. Nidhi Company is extremely easy to make and there are minimum compliances afterward

Our Process

Estimated time to complete the process – 11 to 13 working days

Step 1

Initial Discussion & collection of Basic information

Step 2

Apply to Name Availability of the proposed Company

Step 3

Apply for Digital Signature Certificate (DSC)

Step 4

Drafting MOA ,AOA & other Documents

Step 5

File Form Spice E-32

Step 6

Self Declaration from First Directors and Subscribers in form INC-9

Step 7

Filling Registration Document & Get Certificate of Incorporation

Step 8

Application for PAN & TAN

Step 9

Dispatch of deliverables.

Choose Your Package

All Inclusive Pricing – No Hidden Fee

Basic
- ₹ 35000
- - 8 DSC (Digital Signature)
  - 3 DIN for Director's
  - Name Approval for Company
  - MOA & AOA Drafting
  - PAN & TAN Card of Company
  - Certificate of Incorporation
  - Bank Account Opening Support
  - Registration Charges
  - Incorporation Fees
  - GST Registration
  - Commencement of Business
  - Stamp duty on INR 10 Lakh Authorized*
- Purchase Now

Premium
- ₹ 42000
- - 8 DSC (Digital Signature)
  - 3 DIN for Director's
  - Name Approval for Company
  - MOA & AOA Drafting
  - PAN & TAN Card of Company
  - Certificate of Incorporation
  - Bank Account Opening Support
  - Registration Charges
  - Incorporation Fees
  - GST Registration
  - E Way Bill Portal Registration
  - Accounting Software
  - MSME Registration
  - Auditor Appointment Assistance
  - Commencement of Business
  - Stamp duty on INR 10 Lakh Authorized*
  - PF & ESIC Registration
  - Professional Tax Registration
- Purchase Now

Ultimate
- ₹ 55000
- - 8 DSC (Digital Signature)
  - 3 DIN for Director's
  - Name Approval for Company
  - MOA & AOA Drafting
  - PAN & TAN Card of Company
  - Certificate of Incorporation
  - Bank Account Opening Support
  - Registration Charges
  - Incorporation Fees
  - GST Registration
  - E Way Bill Portal Registration
  - Accounting Software
  - MSME Registration
  - Auditor Appointment Assistance
  - Commencement of Business
  - Stamp duty on INR 10 Lakh Authorized*
  - PF & ESIC Registration
  - Professional Tax Registration
  - 1 Year GST Return Filing
  - Income Tax Return Filing
- Purchase Now

Note*

Stamp duty upto 1 Lakh Authrorized Capital Covered above, if Capital Increase the duty raise on actual Basis
In case of incorporation in Madhya Pradesh, an additional stamp duty of Rs.7500 will be applicable. In case of incorporation in Punjab, an additional stamp duty of Rs.10, 000 will be applicable. In case of Kerala, an additional stamp duty of Rs.3000 will be applicable
Cost of 2 Director’s covered above,If No. of Director’s more than 2 then Cost of DSC and Din Application Increase By 1500 Rs Per Director

Benefits

Separate Legal Entity

A Nidhi Company relishes the advantage of Separate Legal recognition within the eyes of law which clearly states that assets and liabilities of the business aren't the assets and liabilities of the administrators.

Cultivates Savings

A Nidhi Co. encourages its members to save lots of money and encourages a thrifty lifestyle. it's a company wherein members can lend or borrow money and accept financial loans amongst themselves.

Mutual Benefits

A Nidhi Company works on concepts of mutual benefits. no one member or a bunch of members get benefited. Nidhi Company allows right to each member to access credit facilities when in need.

Builds Credibility

All the knowledge regarding the company is made available in a public database. This feature makes it simple to authenticate the existence of the business that ultimately provides in improving business credibility.

Documents Required

To Be Submitted By All Directors

Self-attested copy of PAN Card

Self-attested copy of Driver’s License/ Voter ID/ Aadhaar Card/Passport

Self-attested copy of Bank Statement/ Telephone Bill/Mobile Bill/ Electricity Bill

Passport-size Photograph

Specimen Signature Certificate

Clear All Your Doubts !

Can I carry on my Nidhi company with 7 members?

Yes, you can incorporate your Nidhi company with 7 members at least. However, within 1 year, you must have at least 200 members.

What are the requirements of a Nidhi company incorporation?

A Nidhi company is registered as a Public Limited Company. Hence, the requirements for incorporation of a Nidhi company covered a minimum of three Directors and Seven Shareholders. However, the MOA of a Nidhi company must state that the primary objective of the proposed company is to nurture and promote a habit of thriftiness and savings among its members, and accept deposits from or lend loans only to its members, for the mutual benefits of them.

Can a Nidhi company lend to an outsider?

No, a Nidhi company can not borrow from an outsider. It can not similarly lend to an outsider who is a non-member.

Are there any caps on accepting deposits from members?

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

Are the Deposits with Nidhi Company safe and secured?

Yes, the Deposits with such companies are safe and secure because the Ministry of Corporate Affairs and Reserve Bank of India has framed rules and regulations to ensure the safety and security of Deposits. And the Nidhi Company compulsorily abide by the rules of Central Government.

How the Nidhi Company utilizes the Funds procured by it?

The Nidhi Company uses the funds in lending to shareholders as per Nidhi Rules. It lends such money in the form of small loan for business and finance.

Who can become the shareholder/member of Nidhi Company?

Any person who is above 18 years of age as per the standard age proof can become a member of the Nidhi Companies. The person desirous of becoming a member should have valid ID Proof and Address Proof.

Can a Minor be a Member of Nidhi Comany?

A minor shall not be admitted as a member in a Nidhi company, But deposits may be accepted in the name of minor , if they are made by natural or legal guardian who is a member of the respective Nidhi.

On what condition Nidhi Company can provide a loan to its members?

Nidhi can provide loans to its members only after the members have given/ provided some securities like gold, silver jewelry or any type of financial securities against the loan.

Whether Loan can be providing to non-members.

The principle of mutual benefit has been to pool the savings from members and lend only to members and never have dealing with Nonmembers.

What is requirement of minimum number of Members in Nidhi Company?

Every Nidhi shall, within a period of one year from the commencement of these rules, ensure that it has not less than two hundred members;

Whether a person can be director of NIDHI Company without holding any share capital?

The Director shall be a member of Nidhi. Therefore, it is mandatory for director of Nidhi Company to hold shares.

What shall be maximum tenure of director in Nidhi Company?

The Director of a Nidhi shall hold office for a term up to ten consecutive years on the Board of Nidhi. The Director shall be eligible for re-appointment only after the expiration of two years of ceasing to be a Director.

What is minimum nominal value of shares for Nidhi Company?

Every Nidhi shall issue equity shares of the nominal value of not less than ten rupees each.

What is requirement of minimum shareholding for deposit holder?

Every Nidhi shall allot to each deposit holder at least a minimum of ten equity shares or shares equivalent to one hundred rupees.

How long does it take to make a design?

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