Nidhi Company is basically a NBFC (Non Banking Financial Company). The word â€˜Nidhi means' funds. It is a hindi word. In India, Section 406 of the Companies Act 2013 and Companies (Nidhi Companies) Rules, 2014 governs the procedure for Incorporation Process of a Nidhi Company. Nidhi Companies deals with lending and borrowing of funds to its members. It can lend money only to its members. In South India such types of companies are more in vogue. RBI has been discretionarily empowered in India to issue direction to such Companies for matters relating to acceptance of deposits from the members. Nidhi Companies are not allowed accept deposits other than its members.
Requisites before Incorporation process
Note : As per Companies Incorporation rules Telephone bill, Mobile Bill or Electricity bill shall not be older than 2 months. (It should be latest)
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DSC for Directors is mandatory
Making online Application to opt for DIN i.e Directors Identification Number
Making Application for proposed name of the Nidhi Company from Options given by directors
We will prepare all the documents on your behalf and file the same withe the Registrar of Companies and take routine follow up with the officers.
Once Certificate of Incorporation is opted, the directors can commence its business
A Nidhi Company means a company which is similar to NBFC (Non Banking Financial Company) but the major difference is it lends money only to its members or borrow money only from its members. Also it can accept deposits only from its members.
Minimum 7 members are required to incorporate a Nidhi Company of which atleast 3 should be Directors.
Nidhi Companies fall under the ambit of two governing laws-
When a Nidhi Company is incorporated since from the date of incorporation within a period of one year it must
Yes. Returns of Statutory compliance is required to be filled in form NDH-1 and half yearly return in form NDH-3.
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