Start a New Nidhi Company !!
Online Nidhi Company Registration Consultant in India
Those who are in search of a Professional Nidhi Company Registration Online Consultant in India will feel satisfy once they connects to us, feel free to reach us.
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Nidhi Company Registration in 7 days
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Online Company Registration Consultant Services
All About Nidhi Company
Additional Information
People often thinks to start a New Nidhi Company, they should have known first- WHAT IS A NIDHI COMPANY?
A Nidhi company is a type of company in the Indian non-banking finance sector, recognized under section 406 of the Companies Act 2013. Their core business is borrowing and lending money between their members. Examples of a Nidhi Company are permanent funds, mutual benefit funds, a mutual benefit company and benefit funds. In simple words, Nidhi means a company which has been incorporated with the object of developing the habit of thrift and reserve funds amongst its members and also receiving deposits and lending to its members only for their mutual benefit.
Nidhi company registration online is simple and less complex as compared to other types of finance companies like NBFC which require RBI license to start. A nidhi company can be started with an initial capital of Rs.5 lakh and requires at least seven people to start with (minimum 7 members). Nidhi company registration also requires three directors initially. Every promoter or director needs a copy of PAN card, ID proof and address proof to apply for a Nidhi company in India.
Nidhi Company Registration Consultant will need following documents
In Relation to Members and Directors
In Relation to Company and Registered Office
In Relation to Company and Registered Office
- PAN Card and Aadhar Card.
- Identity proofs.
- Address Proofs.
- Passport size Photo.
In Relation to Company and Registered Office
In Relation to Company and Registered Office
In Relation to Company and Registered Office
- Proof of ownership of registered place of business (Electricity Bill).
- No Objection Certificate (signed by the owner / landlord).
Declarations and Signature on Documents
In Relation to Company and Registered Office
Declarations and Signature on Documents
- Memorandum of Association (MOA).
- Articles of Association (AOA).
- Declaration of first directors.
Basic Requirements to Start a Nidhi Company Online!
Number of Members and Directors
- Company needs at least 7 persons to start a New Nidhi Company who will become members and initial subscribers of the company.
- The minimum number of directors should be 3.
- Within one year of its registration Nidhi Company should have minimum 200 members within one year from commencement
Share Capital and Nature of Company
- New Nidhi Company to start business as Nidhi shall be a public company and shall have a minimum paid up equity share capital of trn lakh rupees.
- No preference shares can be issued by the company.
Activities Prohibited in a Nidhi Company
New Nidhi Company can’t deal with chit funds, hire-purchase finance, leasing finance, insurance or securities business. It is strictly prohibited from accepting deposits from or lending funds to, any other person except members.
What are the benefits of Nidhi Company
It is constituted for sole purpose of helping its members. It is formed for mutual benefit.
Registration of New Nidhi Company instills the feeling of savings and thriftiness among its members.
The investments are secured and lucrative.
New Nidhi Company doesn’t require an RBI license.
Conditions to acquire Nidhi Certification Online
Requirements for minimum number of members
New Nidhi Company shall, within a period of one year, ensure that it has-
- not less than two hundred members;
- net Owned Funds of ten lakh rupees or more;
- unencumbered term deposits of not less than ten per cent of the outstanding deposits;
- ratio of Net Owned Funds to deposits of not more than 1:20.
What are restrictions for Nidhi Company under Nidhi Rules 2014
- New Nidhi Company shall not carry on the business of chit fund, hire purchase finance, leasing finance,insurance or acquisition of securities.
- Company shall not carry on any business other than the business of borrowing or lending in its own name.
- Shall not open any current account with its members.
- Shall not issue preference shares, debentures or any other debt instrument.
- Shall not accept deposits from or lend to any person, other than its members.
- Shall not take deposits from or lend money to any body corporate.
- Shall not issue or cause to be issued any advertisement in any form for soliciting deposit without consulting Nidhi Company Consultant .
- Shall not pledge any of the assets lodged by its members as security.
- Shall not acquire another company by purchase of securities or control the composition of the Board of Directors of any other company in any manner whatsoever.
- Shall not pay any brokerage or incentive for mobilizing deposits from members or for deployment of funds or for granting loans.
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