Nidhi Company Registration

Nidhi Company Registration:

Nidhi means a company that 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 companies existed even prior to the existence of the companies Act 2013.

Benefits of Nidhi Company Registration

• Very Easy formation.
• Cost-Efficient Registration.
• No RBI Regulations – less compliance.
• More Certainty in Nidhi company.
• Less level of Risk - Non- payment loans.
• Net owned fund- Invest one get twenty.

Documents Required:

• Director: PAN, Aadhar & Photo with Mobile Number & Email ID. Driving License, Voter Id Card or Passport. Any one Id Proof is required.
• Proof of Business Address: Electricity Bill, NOC & Rent Agreement. Latest Utility bill not older than 2 months, Rent agreement in case of rented property Registry Proof or House Tax Receipt in case of owned property and No Objection Certificate (NOC) from the owner

Nidhi Company Registration Process

1. We help you in every step of the  Nidhi Company Registration:-
2. 1.Call us at 97111-77955 Or Mail at info@jeeprofessionals.in & Discuss your Business.
3. 2.Fill the Form
4. 3.Make the Payment
5. 4.Get Your Nidhi Company Registration Done.

Some Key Points:-

• Minimum Director: Initially 3 directors and 7 members are required. Maximum 3 members can be directors at the time of incorporation.
• What you Get: 3DIN --> 7 Class 3 DSC--> Name Approval Letter --> MoA & AoA Drafting--> PAN--> TAN--> Certification of Incorporation--> BR for Bank Account--> GST Registration--> Share Certificate

Within a period of one year from the date of incorporation, every nidhi shall ensure that it possesses :

a) Not less than 200 members b) Net owned funds of Rs 10 lakhs or more c) Unencumbered deposits of not less than 10% of the outstanding deposits as specified in Rule 14; and  d) The ratio of net owned fund to deposits of not more than 1:20 

Nidhi shall not : a) Continue the business of hire purchase finance, chit fund, insurance, leasing finance or acquisition of securities allotted by any corporate entity; b) Issue preference shares, debentures or any other debt instrument in any form or by any name; c) Open a current account with its members;  d) Obtain another company by purchase of securities or manage the composition of the Board of Directors of any other company in any way whatsoever or enter into any preparation for the alteration of its management, unless it has approved a special resolution in its general meeting and also attained the Previous approval of the Regional Director having authority over such Nidhi; e) Carry on any business other than the business of lending or borrowing in its own name : Given that Nidhis which have followed all the provisions of these rules may offer locker facilities on rent to its members subject to the rental income from such facilities not more than 20% of the gross income of the Nidhi at any point of time during a financial year. f) Take deposits from or lend to any individual, other than its members; g) Assurance of any of the assets lodged by its members as security; h) Accept deposits from or lend money to anybody corporate; (i) Enter into any partnership arrangement in its lending or borrowing tasks; j) Provide or cause to provide any advertisement in any form for accepting deposit :  Only if private circulation of the details of fixed deposits system among the members of the Nidhi delivering the words "for private circulation to members only" shall not be taken to be an advertisement for accepting deposits. (k) Pay incentive or brokerage for mobilising deposits from members or for deployment of funds or for granting loans. 

Branches : District level operations are conducted for the first 3 years. Once the approval is obtained from Regulator Director, it is possible to make 3 branch offices in the district or outside the area.