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  •    Digital Signature for 3 Directors.
  •    Director Identification no for 3 Directors.
  •   Trademark search & Nidhi Company name
  •    MoA & AoA.
  •    MCA Fees.
  •    Company PAN Card.


Nidhi Company Registration Online

Nidhi Company, though often though similar to the NBFCs (Non-Banking Financial Corporation) are yet very different from the NBFCs. Even though the very facets of both these corporations might appear same yet they are very different form their core. The very aesthetics of both of these corporations is as different as chalk and cheese. They both have been one of the most engaging entities of the modern India. They have led India in the past decade to a path of growth and development and have channelized the savings of the modern India in the right direction.

Nidhi means an entity which by the virtue of its objective is thus formed to lend and borrow money from its members and only members. The activities of the Nidhi company are related to specifically related to the members only. No outsider is allowed to partake of the activities of the Nidhi company.

This is because it is written in the objectives of the Nidhi Company that no outsider is allowed to take part in the activities of the business. This is a major advantage of the Nidhi Company because it focuses only on the limited group of people and thus it offers more room for suggestions and also more room to expand and grow. Also, this company helps to cultivate the habit of savings among the consumers. This helps to increase the rate of savings in the economy and also help to raise the rate of investment in the overall economy.

Furthermore, we must note that there are numerous disadvantages of forming a Nidhi company. The major disadvantage of the Nidhi is that regarding the credit responsibility among the members. There have been numerous instances where the members have borrowed and wilfully defaulted, even though they were in the full capacity to pay the loan. This is a major setback for the Nidhi company because wilful default leads to breaking up of the company as other members also follow the same path. However, even then we see that the Nidhi Company are one of the best entities for starting lending and borrowing among a limited group of members.

A Nidhi Company is one that belongs to the non-banking Indian finance sector and is recognized under section 406 of the Companies Act, 2013. Their core business is borrowing and lending money between their members. They are also known as Permanent Fund, Benefit Funds, Mutual Benefit Funds and Mutual Benefit Company. Nidhi Company Registrations are regulated by the Ministry of Corporate Affairs. Reserve Bank of India is empowered to issue directions to them in matters relating to their deposit acceptance activities. However, in recognition of the fact that Nidhi Company deals with their shareholder-members only. Nidhi companies existed even prior to the existence of companies Act 1913. The basic concept of Nidhi is "Principle of Mutuality" (Paraspara Sahayata). Thus they function for the common benefit advantage of all their members/shareholders.

Governing Law of Nidhi Company

Nidhi company is governed by Nidhi Rules, 2014. They are incorporated in the nature of Public Limited company and hence, they have to comply with two set of norms, one of Public limited company as per Companies Act, 2013 and another is for Nidhi rules, 2014. No RBI approval is necessary for Nidhi Company registration procedure as RBI has specifically exempted this category of NBFC in India to comply its core provisions such as registration with RBI etc. Every Nidhi Company shall, within a period of one year from the commencement must ensure that it has not less than 200 members.

Advantages of Nidhi Company Registration

Separate Legal Entity

A Nidhi company is the best entity and a jurally person established beneath the Act. Therefore, they have a giant legal capability and might own property and conjointly incur debts. The users (Directors) of a Nidhi company have zero liability to the creditors of the company.

Uninterrupted Existence

A Nidhi company has ‘perpetual succession’, that’s extended or uninterrupted existence untill it’s lawfully mixed. A Nidhi company, being a separate legal person, is unaffected by the death or alternative effort of any member however continues to be breathing in spite of the changes in membership.

Better credibility

A Nidhi company enjoys higher credibility compared to Mutual profit organizations. Nidhi Company registration are monitored by the Central Government.

Easy Management

The Board of Management of the Nidhi Company will simply be modified by processing straightforward forms with the Registrar of corporations. The Board of Management of a Nidhi company handles the activities of the Nidhi Company.

Going Concern

A Nidhi company being an aural person will acquire, own, relish and provides up, property in its own name. No member will create any claim when the property of the Nidhi company on condition that it’s a going matter.

Limited Liability

Limited Liability suggests that the standing of being lawfully accountable solely to a restricted quantity for liabilities of the Nidhi company. In every Nidhi Company, the members don’t seem to be the command in person accountable for the liabilities of the Nidhi company.

Requirement after Nidhi Company Incorporation

  •     Minimum number of 200 Members (in 12 Months).
  •     Net owned fund must be Rs. 10 Lakh or above.
  •     Unencumbered deposits of not less than 10% of the outstanding deposits.
  •     Net own fund vs deposits should not be more than 1:20.

Minimum Requirement before Nidhi Company Registration

  •     Minimum 7 Share Holders.
  •     Minimum of 3 Directors.
  •     Minimum Capital Of Rs. 10 Lakhs.
  •     Din of All Directors.

Documents Required

Nidhi Company Registration Procedure

Step 1

Application of DSC & DPIN: First of all, the partners have to apply for Digital signature and DPIN for Nidhi Company. A digital signature is an online signature used of filing and DPIN refer to Directors PIN number issued by MCA. If the directors already have DSC and DPIN, then this step can be skipped.

Step 2

Name approval: You have to provide 3 different name options for Nidhi company to MCA of which one will be selected. Names provided should ideally be unique and suggestive of company business.

Step 3

Get incorporation certificate: It typically takes 15- 25 days for registration of Nidhi company and gets the incorporation certificate. Incorporation certification is proof that the company has been created. It also includes your CIN number.

Step 4

Apply for PAN, TAN and Bank account: Then you need to apply for PAN and TAN. PAN and TAN are received in 7 working days. Post this, you can submit the Incorporation certificate, MOA, AOA and PAN with a bank to open your bank account.

Basic Package

Rs. 24,499/- Plus Taxes
Features of Basic Package
  • 3 DSC.
  • 3 DIN.
  • Name Approval.
  • Trademark Registration.
  • PAN & TAN of Company.
  • Company Kit.
  • GST Registration.
  • Ledgers Accounting Software.

Premium Package

Rs. 59,999/- Plus Taxes
Features of Premium Package
  • 3 DSC.
  • 3 DIN.
  • Name Approval.
  • Trademark Registration.
  • PAN & TAN of Company.
  • Company Kit.
  • GST Registration.
  • Ledgers Accounting Software.
  • Share Allotment upto 200.
  • Annual TAX Filling.
  • Annual GST Returns.

* Give it a Glance *

Q1. What is a Nidhi company?

Ans. A Nidhi company is the one which just like NBFC company belongs to the non-banking sector and is recognized under the section 406 of the Companies Act 2013. The core and sole objective of this firm is to borrow and lending money between their members. They are not regulated by the RBI (Reserve Bank of India) but however, the RBI can issue directions to them in relating to their deposit acceptance activities. However, the Nidhi company is directly regulated by the Ministry of corporate Affairs.

Q2. What are the documents required for the registration of a Nidhi company?

Ans. Following are the documents required for the Nidhi company: 1. Pan card 2. Latest Bank Statement 3. Scanned copy of Notarized Rental Agreement 4. Passport sized photograph, scan copy of signature 5. Utility bill, Rent bill

Q3. What are the advantages of the Nidhi company?

Ans. Following are the advantages of the Nidhi company: 1. Separate legal entity 2. Perpetual existence 3. Greater Credibility 4. Limited Liability

Q4. What are the disadvantages of the Nidhi company?

Ans. Following are the disadvantages of the Nidhi company: 1. Strict Rules 2. Limited Issuance 3. Forbidden to lend deposits to outside members

Q5. What are the requirements for registration of Nidhi company in India?

Ans. Following are the requirements for registration of Nidhi company in India: 1. It should have 3 directors 2. It should have at least 7 members 3. The main objectives should be written in the MOA.

Q6. What are the restrictions on Nidhi company?

Ans. Following are the restrictions on Nidhi company: 1. They are not allowed to start the business of chit funds, insurance, leasing etc. 2. Nidhi company cannot issue securities such as preference of shares, debentures etc. 3. They are prohibited from opening any current account with its members. 4. Nidhi company cannot enter into the partnership for doing lending and borrowing business 5. It is not allowed to acquire any other company.

Q7. Who can become the shareholder/member of Nidhi company?

Ans. Any person who is above 18 years of age and with a valid age proof can become a member of Nidhi company.

Q8. How does Nidhi companies use the funds procured by it?

Ans. The Nidhi company lends to its shareholders as per the Nidhi rules. It lends money in the form of small loan for business and finance.

Q9. What are the lending rules for the shareholders in a Nidhi company?

Ans. The deposits are lent according to the rules framed by the members of the Nidhi company. Furthermore, the Nidhi company keeps gold, jewellery etc. against the funds lended.

Q10. How is a Nidhi company governed in India?

Ans. The Nidhi company is governed by the section 406 of the Companies Act, 2013.

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