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Nidhi Company Registration

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A nidhi company closely resembles to a NBFC, however under a Nidhi Company deposits may be accepted from a closed group of persons only called members of the Nidhi Company. We will extend our support in documentation, preparation, filing and subsequent Follow-up with ROC.

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Nidhi Company Registration

Nidhi Company Registration

A Nidhi Company is formed to borrow and lend to its members with an objective to promote the habit of saving money among its members and works on the principle of mutual help. Nidhi companies are very popular in southern states in India. unlike an NBFC a Nidhi Company is not required to obtain a license from RBI, hence it is easy to incorporate. To start with first incorporate a public limited company which should have “Nidhi Limited” as the last word of its name. Secondly within one year of its incorporation, when the number of shareholders has reached 200 then a separate application is filed before the ROC for grant of Nidhi Company Status. The Company cannot advertise asking for deposits from the public at large and shall keep its borrowing and advance activities to and from among its members.

Nidhi Company Registration

Minimum Requirements to Start a Nidhi Company

Prohibited Activities

Prohibited Activities

Activities like Chit Fund, Hire-Purchase Finance, Leasing Finance, Insurance or Securities Business is strictly prohibited.

Number of Members

Number of Members

It starts with 7 members as a public limited company, however, to obtain a Nidhi Company Status it needs at least 200 members in a year.

Capital Requirement

Capital Requirement

The minimum paid-up equity capital required for Nidhi Company Status is Rs. 10,00,000 help by at least 200 members.

Unique Name

Unique Name

Name of the company should be unique, and it must not be the same or similar to the name of any existing company or a trademark.

Documentation of the Company & Promoters

  1. Two Photographs of Promoters
  2. Identity Proof of each Promoter
  3. Address Proof of Promoter
  4. PAN Card of Each Promoter
  5. Signed Declaration (s) from Promoters

Documentation for the Company Registered Address

  1. Proof of Registered Office
  2. Utility Bill as proof must be Latest
  3. NOC from the owner of premises

Nidhi Company Registration Process

01

DIGITAL SIGNATURE OF DIRECTOR

As the application for Company Incorporation is filed online, the process starts with the issuance of Digital Signatures of class two.

02

NAME APPROVAL OF COMPANY

The name of Nidhi Company must end with “Nidhi Limited” and must be unique and should not be the same or similar to an existing company.

03

FILLING FOR INCORPORATION

One single application (spice 32) is filed for incorporation of the company. with the approval of this, the Certificate is Issued.

04

OBTAINING THE NIDHI COMPANY STATUS

The application for Nidhi Status is filed when the net worth of the company is over Rupees Ten lacs and the minimum no. of members are 200 .

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